The Hong Kong stock exchange recently relaxed its rules to allow listings by biotech companies which have yet to sell products.

The board's registration-based listing procedure will cut regulatory red tape and allow listings by start-ups that have yet to turn a profit.

GFH's move to list in Saudi Arabia comes in the wake of Saudi market reforms that will allow listings by companies from other countries.

The new rules allow listings by companies with a dual class share structures, and also by biotech firms that have not yet earned any revenues.

China is leading the rush in the region's IPOs, mainly after new rules allowed listings to resume after a ten-month break.

Airbnb has come under fire in the past by Palestinian officials and human rights campaigners for allowing listings of homes to rent in Israeli settlements.

The STAR Market only allows listings from a handful of industries with "hard" technologies such as AI, cloud computing, green energy and biotech.