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China approved first dual-class listing on the Star market

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China is set to see the first dual-class listing in the domestic market, as the nation aims to stem an exodus of technology firms seeking listings overseas.

Chinese cloud storage provider UCloud Technology last Friday was approved by the Shanghai Stock Exchange for an initial public offering on the Star market, according to an exchange filing. It is the first company with unequal voting rights to get approval from the exchange for such listing.

Currently, three of UCloud’s . . .

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