China Securities Regulatory Commission, Contents and Formats for Information Disclosures by Companies That Offer Securities to the Public Guidelines No.14: Convertible Bonds Listing Announcements

Issued: April 26 2001
Effective: as of date of issue
Interpreting authority: China Securities Regulatory Commission
Applicability: These Guidelines apply to all issuers of convertible bonds (Article 2).

Main contents: The Guidelines set out the requirements on the contents and format of any listing announcement for corporate bonds. In the very first section of a listing announcement, the directors and the accountant of the issuer are required to remind investors to read the relevant information in the corresponding prospectus (Article 15 and 16). In addition to the usual information on the issuer, a separate section is required to inform the investors of the credit standing of the issuer (Article 25). Separate sections shall also be made in the listing announcement to specify the terms of the issue, including the terms in relation to the conversion, call and put (if applicable) of the corporate bonds, and the measures to service the debt (Articles 23 and 26). The issuer is permitted to simplify its financial information in the listing announcement if the period from the date on which the prospectus is approved to the date on which the corporate bonds are listed is less than three months (Article 8).
Related legislation: PRC, Company Law (Amended),Oct 27 2005, CLP 2005 No.10 p21; PRC, Securities Law (Amended), Oct 27 2005, CLP 2006 No.1 p31 and Administration of Convertible Company Bonds Tentative Procedures, Mar 25 1997, CLP 1997 No.5 p6