The listing rules for stocks on the Shanghai Stock Exchange Science and Technology Innovation Board (STAR Market) are as follows:
1. Eligibility: Companies must be engaged in the fields of science and technology innovation, possess independent intellectual property rights, and demonstrate high market value potential.
2. Initial Public Offering (IPO): The IPO application must be submitted to the Stock Exchange, and the company must meet the criteria for offering size, number of shareholders, and lock-up period.科创板交易细则
3. Registration-based IPO: The registration system is adopted for IPOs on the STAR Market. Companies need to disclose relevant information according to regulations and undergo review by the Stock Exchange.
4. Investor Suitability: Only institutional and individual investors with certain qualifications are
allowed to participate in trading on the STAR Market.
5. Trading Rules: The STAR Market adopts a dynamic price limit mechanism, allowing stocks to fluctuate within a certain range on the first five trading days. Starting from the 6th trading day, the daily price limit is set at 20%.
6. Stock Stabilization: A pilot system of stock stabilization mechanism is implemented on the STAR Market, allowing securities companies to conduct stabilization activities within certain limits.
7. Risk Warning: The Stock Exchange introduces risk disclosures and investor education measures to ensure that investors fully understand the features, risks, and rules of the STAR Market.
Please note that these rules are subject to change, and it is advisable to refer to the latest regulations issued by the Shanghai Stock Exchange for the most accurate and up-to-date information.
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