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China regulator relaxes refinancing rules for listed companies

Published 11/09/2018, 04:11 AM
Updated 11/09/2018, 04:22 AM
© Reuters. Advertising board showing a Chinese stone lion near an entrance to the headquarters of China Securities Regulatory Commission, in Beijing

© Reuters. Advertising board showing a Chinese stone lion near an entrance to the headquarters of China Securities Regulatory Commission, in Beijing

SHANGHAI/BEIJING (Reuters) - China's securities regulator published revised rules on Friday that would allow listed companies to issue additional shares more frequently, and for broader use.

The China Securities Regulatory Commission (CSRC) said at a press conference that money raised via private share placement can be fully used to replenish operating capital and repay debts.

Meanwhile, qualified companies are now allowed to sell additional shares six months after the previous round of financing, compared with a minimum period of 18 months previously.

© Reuters. Advertising board showing a Chinese stone lion near an entrance to the headquarters of China Securities Regulatory Commission, in Beijing

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