Shanghai Stock Exchange, Questions Relevant to Applying to the Shanghai Stock Exchange to Issue and List Shares Circular

Issued: April 7 2001
Effective: as of date of issue

Main contents: The Circular states the principles on which the stock exchange determines the issue date and listing date for shares issued in initial public offerings (IPO), rights issues and non-IPO new share offerings. For IPOs with China Securities Regulatory Commission (CSRC) approval documents, the issue date shall be set on the first-apply-first-issue basis; if more than one issuer applies at the same time for issuance on the same date and the stock exchange has technical difficulties accommodating the applications, the issue date shall be set according to the order of the document numbers of the CSRC approval documents (Section One). The stock exchange, however, may at its discretion adjust the issue date after discussion with the issuer (Item Three of Section One). With regard to the listing date, the issuer may specify it in its application to the extent permitted by law, regulations and the rules of the stock exchange (Item One of Section Two). If more than one issuer applies for a listing on the same date and the stock exchange has technical difficulties accommodating the applications, the listing date shall be set on the first-apply-first-list or, if more than one application have been made at the same time, the first-issue-first-list basis (Item Two of Section Two). The rules applicable to shares issued in IPOs are also applicable to those in rights issues and non-IPOs (Section Four). The Circular also attaches a notice to lead distributors and listing sponsors on the stock exchange's requirements for the delivery of issue and listing materials by designated persons, and a form for the registration of the designated persons.

clp reference:3700/01.04.07/SHpromulgated:2001-04-07effective:2001-04-07