China tightens IPO rules for STAR Market hopefuls

China tightens IPO rules for STAR Market hopefuls

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 securities regulator has raised the bar for companies seeking an IPO on the Shanghai Stock Exchange’s science and technology innovation board, as it seeks to improve the quality of listed companies amid a stock market rout that’s sent the benchmark SSE STAR 50 Index tumbling more than a quarter over the past year.