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CSRC to Support ChiNext-Listed Firms to Absorb, Merge Domestic Firms Listed for Less Than 3 Yrs w/ Launch of ChiNext Stock Index Futures at Appropriate Time
With the approval of the State Council, the China Securities Regulatory Commission (CSRC) issued opinions proposing to improve the financing and M&A system and enhance the flex...
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CSRC to Support ChiNext-Listed Firms to Absorb, Merge Domestic Firms Listed for Less Than 3 Yrs w/ Launch of ChiNext Stock Index Futures at Appropriate Time
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With the approval of the State Council, the China Securities Regulatory Commission (CSRC) issued opinions proposing to improve the financing and M&A system and enhance the flexibility and convenience of equity and debt financing.

The authority will guide listed companies to conduct reasonable and needs-based financing, introduce a shelf registration system for refinancing, allowing boards of directors to implement simplified refinancing procedures upon authorization by extraordinary general meetings, and raising the upper limit for simplified procedures.

Related NewsVehicle Sales YoY for May in China is -2.1%, higher than the previous value of -2.5%.
At the same time, the CSRC will support ChiNext-listed companies in absorbing and merging domestic companies that have been listed for less than three years, while continuing to fulfill regulatory requirements related to lock-up periods.

Meanwhile, the ChiNext market-based index system will be optimized, with the launch of more ChiNext-related ETF products and options and ChiNext stock index futures at an appropriate time.

The criteria for recognizing strategic investors will also be optimized to support eligible medium- to long-term funds in participating as strategic investors in private placements by ChiNext-listed companies.

Related NewsOutstanding Loan Growth YoY for May in China is 5.5%, lower than the previous value of 5.6%. The forecast was 5.5%.

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