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On September 21, 2017, ORIENTAL YUHONG, which is listed on the SME board of the Shenzhen Stock Exchange (“SZSE”), released a prospectus for public offering of Yuhong Convertible Bond, the first bond to be subscribed for based solely on the credit status of subscribers in the Shenzhen and Shanghai markets. On September 29, the company issued a total of 18.4 million Yuhong Bonds raising 1.84 billion yuan.
China Securities Regulatory Commission (“CSRC”) issued a decision to amend the Administrative Measures on Securities Issuance and Underwriting on September 8, 2017. Concurrently, SZSE made amendments to the Implementing Rules of SZSE on Convertible Corporate Bonds Business and the Guidance on Convertible Corporate Bond Issuance and Listing for SZSE Listed Companies. As expressed by a relevant officer from SZSE, to ensure a successful offering of Yuhong Bond, SZSE had complied strictly with the arrangements of the CSRC, carefully prepared for the issuance, repeatedly urged the issuer, sponsor and other intermediaries to carefully study relevant rules and to optimize the issuance plan prior to the offering of the bond. SZSE also gave overall consideration and careful organized and coordinated all participants including Shenzhen branch of China Securities Depository and Clearing Co., Ltd., the issuer and intermediaries, strictly abided by the newly revised rules relevant to convertible bond issuance before successfully issuing the bond.
Next, SZSE shall, guided by CSRC, continue to fulfill its duties with care and prudence in issuance and listing of bonds and other re-financing products, effectively prevent financial risks, vitalize the market and enhance its capability to serve the real economy.
On September 21, 2017, ORIENTAL YUHONG, which is listed on the SME board of the Shenzhen Stock Exchange (“SZSE”), released a prospectus for public offering of Yuhong Convertible Bond, the first bond to be subscribed for based solely on the credit status of subscribers in the Shenzhen and Shanghai markets. On September 29, the company issued a total of 18.4 million Yuhong Bonds raising 1.84 billion yuan.
China Securities Regulatory Commission (“CSRC”) issued a decision to amend the Administrative Measures on Securities Issuance and Underwriting on September 8, 2017. Concurrently, SZSE made amendments to the Implementing Rules of SZSE on Convertible Corporate Bonds Business and the Guidance on Convertible Corporate Bond Issuance and Listing for SZSE Listed Companies. As expressed by a relevant officer from SZSE, to ensure a successful offering of Yuhong Bond, SZSE had complied strictly with the arrangements of the CSRC, carefully prepared for the issuance, repeatedly urged the issuer, sponsor and other intermediaries to carefully study relevant rules and to optimize the issuance plan prior to the offering of the bond. SZSE also gave overall consideration and careful organized and coordinated all participants including Shenzhen branch of China Securities Depository and Clearing Co., Ltd., the issuer and intermediaries, strictly abided by the newly revised rules relevant to convertible bond issuance before successfully issuing the bond.
Next, SZSE shall, guided by CSRC, continue to fulfill its duties with care and prudence in issuance and listing of bonds and other re-financing products, effectively prevent financial risks, vitalize the market and enhance its capability to serve the real economy.
