Sci-tech companies bask in the glow of the STAR Market
August 20, 2021
Shanghai's STAR Market, which marked its second anniversary on July 22, has proven to be a popular and successful channel for investors to buy shares in the future of science and technology, such as advanced semiconductor chips, vaccines, green cars, cloud computing, artificial intelligence and robotics.
The Nasdaq-style market, officially named the Shanghai Stock Exchange Science and Technology Innovation Board, is now home to over 300 companies, which have raised about 380 billion yuan (US$58.8 billion) in initial public offerings.
Chip designer Shanghai Fudan Microelectronics is a recent example of the market success. Its share price surged eightfold on its August 4 debut. The company was already listed on the Hong Kong exchange.