The Shanghai Stock Exchange’s Science and Technology board (STAR Market) has seen the listing of 20 new stocks since the start of 2020.
On 26 February Guangdong-based optical storage company Amethystum Storage Technology (紫晶存储) became the 20th company to launch its IPO on Shanghai’s NASDAQ-style STAR Market in 2020.
The listings have raised nearly 800 billion yuan in funds for Chinese tech companies.
Amethystum’s issue price was 21.49 yuan, and rose 264.08% on its first day of trading to close at 78.24 yuan, with a market capitalisation of 14.895 billion yuan.
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