Navigating China’s IPO options as STAR becomes no-go zone

Shifts in regulatory policy by China’s securities commission are likely to make the once-hot Shanghai STAR market a no-go for China biotechs, leaving companies to navigate murky disclosure waters that make it unclear whether Hong Kong or NASDAQ will be the preferred market for China’s next wave of public biotechs.

Regulatory changes on both sides of the Pacific have added another layer of complexity to the decision-making process of where China’s biotech companies should list their shares...