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Initial 25 IPOs on the Shanghai STAR Board Jump 140% Higher in First Session

publication date: Jul 23, 2019

On Monday, the first batch of young China high-tech companies soared higher as they began trading on Shanghai's brand-new STAR Exchange -- the first 25 companies to IPO on the exchange climbed an average of 140%. The most outstanding result was a 521% jump for Anji Microelectronics, a small semiconductor company, while the laggard of the group was able to muster "only" an 88% gain. Together the IPOs raised $5.2 billion for the 25 companies, about 20% more than expected. No biopharma companies were included in the initial group of STAR IPOs, though ChipScreen is scheduled for next week. More details....

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