China gives green light to one more IPO on sci-tech innovation board

BEIJING, Sept. 7 (Xinhua) - China's securities regulator has endorsed the application of one company for initial public offering (IPO) on the science and technology innovation board.


(File photo)

Transsion Holdings will be listed on Shanghai Stock Exchange's sci-tech innovation board, commonly known as SSE STAR Market, the China Securities Regulatory Commission (CSRC) said in a statement.

The company, best known for its three mobile phone brands TECNO, itel and Infinix, is a smart device and mobile internet service provider for consumers in global emerging markets.

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

The company and its underwriter will confirm the IPO date and publish its prospectus following discussions with the stock exchange.

The SSE STAR Market, inaugurated on June 13 and designed to focus on companies in the high-tech and strategic emerging sectors, will ease the listing criteria, such as allowing firms that have yet to make a profit to list, but they will adopt higher requirements for information disclosure.