China greenlights two IPOs on sci-tech innovation board

China's securities regulator has approved the registration of the initial public offerings (IPOs) of two companies on the science and technology innovation board.

Shandong-based Dareway, a leading artificial intelligience technological services provider and Geovis Technology Co Ltd, a Beijing-based high-tech company focusing on the research and development of digital earth products, will be listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, according to the China Securities Regulatory Commission.

It did not specify the total amount of funds to be raised.

The two companies and their underwriters will confirm the IPO dates and publish their prospectuses following discussions with the stock exchange.

The STAR market, inaugurated in June last year and designed to support companies in the high-tech and strategic emerging sectors, eases listing criteria but adopts higher requirements for information disclosure.