The Shanghai Stock Exchange (SSE) has announced that it has given its approval to the listing of nine companies on its new tech board.
The SSE announced on 22 March that these nine companies include Amlogic (晶晨半导体), Raytron Tek (睿创微纳), Beijing Cnano Technology (天奈科技), BR-Robot (江苏北人), Li Yuan Heng (利元亨), Ningbo Rongbay (宁波容百), Hejian Technology Corporation (和舰芯片), Ankon Inc (安翰科技), and Keqian Biology (武汉科前生物).
According to a report from Wallstreetcn.com these nine companies are expected to raise a total of 11 billion yuan in funds, with Hejian Technology seeking the largest financing sum at 2.5 billion yuan.
SSE is also in the process of reviewing the applications of four other companies, including Tebao Biology (特宝生物), Apptronics (光峰科技), Basda (贝斯达医疗) and Ricom (福光股份).
Industry insiders expect the entire listing process from the time of the submission of application materials until the IPO itself to take approximately seven months.
This includes up to three months for review by the SSE, and up to three months for the provision of responses from the issuer or intermediary organisation.
The China Securities Regulatory Commission (CSRC) is then responsible for making a registration decision within a period of 20 working days.