China's STAR Market IPOs raise $102b in first 3 years — 40% of local A-share listings

China's STAR Market IPOs raise $102b in first 3 years — 40% of local A-share listings

A sign for STAR Market, China's new Nasdaq-style tech board, is seen before the listing ceremony of the first batch of companies at Shanghai Stock Exchange (SSE) in Shanghai, China July 22, 2019. REUTERS/Stringer

China’s tech-savvy STAR Market in Shanghai hosted 486 companies that raised a combined 730 billion yuan ($102 billion) through initial public offerings (IPOs) in its first three years.

The fundraising accounted for more than 40% of IPOs in China’s domestic A-share market during the period, said Cai Jianchun, general manager of the Shanghai Stock Exchange, Tuesday at a forum. Companies traded on the STAR Market have a combined market value of more than 6 trillion yuan.

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