UBS sponsors Haohai IPO, first for Star board

By Jonathan Breen
31 Oct 2019

UBS Securities has become the first foreign-owned joint venture to sponsor a listing on Shanghai’s Star Market, where underwriters have to invest in the listings they bring to market.

Haohai Biological Technology was the test case. It came to the Star board, China's new tech-focused listing venue, last week, looking to raise Rmb1.48bn ($210.8m). It ended up taking a bigger Rmb1.59bn. Its shares began trading on Wednesday.

The Nasdaq-style Star Market is China's attempt to modernise its ...

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