(Yicai Global) May 27 -- The science and technology innovation board soon to open in Shanghai will conduct its first review of companies trying to list.
The board's listing committee will host the first review session on June 5, the statement noted, adding the first participants are Shenzhen-based Chipscreen Biosciences, Shanghai-based Anji Microelectronics and Suzhou, Jiangsu province-headquartered TZTEK, per a statement the Shanghai Stock Exchange released today.
The companies that will take part in the review process have already completed their responses and disclosures in a multi-round review and inquiry, and the evaluating body has also held pre-review sessions and formed preliminary opinions about these. It is now initiating the listing committee's review procedures, per its rules.
The panel's review session is an important link in the entire assessment process for issuance and initial public offerings on the new board. The group will jointly negotiate the contents and preliminary opinions in the report issued by the reviewers in the early stage after thorough talks to decide whether to agree to an issuance and listing.
The Shanghai Stock Exchange will issue its review conclusion approving the listing and issuance or deny a listing based on the committee's opinion.
The first listing panel for the sci-tech board that formed in April has 38 members from accounting and law firms, universities, market-related institutions and organizations within the China Securities Regulatory Commission circle who are mainly part-timers.
Editor: Ben Armour