Shenzhen Stock Exchange Weekly Bulletin 20 February, 2017, Issue 6

The China Securities Regulatory Commission (CSRC) on February 17 amended the refinancing rules and capped the maximum shares that listed companies can sell through private placements at no more than 20 percent of their total capitalization. The amended rules also require a time gap of at least 18 months from the previous share issuance by a listed company to refinance. In addition, listed companies, excluding financial companies, cannot hold long-term and large amount financial assets for trading and investment purposes when applying for refinancing.

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