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Nine companies set prices for their listings on China’s Nasdaq-style tech board

An investor watches the electronic committee at a stock exchange hall on Feb. 11, 2019 in China.

Visual China Group | Getty Images

Nine Chinese entourages, among the first to list on China’s Nasdaq-style tech board, announced prices of their new share offer on Tuesday, as investors braced for a energetic week for initial public offerings.

China’s securities regulator has given the go-ahead for 25 companies to list on Shanghai’s technology and novelty board, the STAR Market, and the first batch of companies will start trading on July 22.

Four tech advisers aboard companies have already completed their offerings, while 21 firms are taking subscriptions from investors this week.

Nine companies, covering China Railway Signal & Communications, Advanced Micro-Fabrication Equipment (AMEC) and Ningbo Ronbay New Energy Technology ratted their IPO price via exchange statements on Tuesday, and will take subscriptions from investors on Wednesday.

Valuations, leisurely by earning multiples, vary. Semiconductor firm AMEC priced its new offering at 29.01 yuan per share, or 170.8 intervals its 2018 earnings, excluding extraordinary items.

In contrast, China Railway Signal & Communication priced its offering at 5.85 yuan ($0.8502) per pay out, or 18.18 times its 2018 earnings, the lowest multiples of the nine firms. Its Hong Kong-traded shares closed at 6.05 HKD ($0.7757) on Monday.

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