ecns [expanded by feedex.net]: China relaxes asset restructuring rule for listed firms

ecns [expanded by feedex.net]

ecns

China relaxes asset restructuring rule for listed firms
http://www.ecns.cn/business/2014/07-12/123783.shtml
Jul 11th 2014, 23:09

2014-07-12 08:09 Web Editor: Gu Liping


The China Securities Regulatory Commission (CSRC) released a new rule governing major asset restructuring by listed companies on Friday, with the market playing a bigger role.


Under the new rule, major asset restructuring such as asset purchases, sales and swaps can proceed without approval from the CSRC.


But restructuring involving stock issuance and a backdoor listing through acquiring a listed shell company still need to be examined and approved by the CSRC.


Han Fuling, a finance professor with the Central University of Finance and Economics, said the new rule will bring about a new round of restructuring on the stock market, with more opportunities emerging.


The commission also clarified tightened oversight of backdoor listings. Requirements for a backdoor listing will be the same as those for an initial public offering.





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