Department of Public Offering Supervision of China Securities Regulatory Commission, Standards for Examination and Verification of Share Issues Memorandum No.12 Examination and Verification Guidelines for Such Questions as the Proportion of External Investment

中国证监会发行监管部股票发行审核标准备忘录第12号 －关于对外投资比例等问题的审核指引

June 02, 2002 | BY

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Issued: May 28 2002Main contents: The Guidelines stipulate that the accumulative external investments (including the investment capital raised by the current…

Clp Reference: 3710/02.05.28 Promulgated: 2002-05-28

Issued: May 28 2002

Main contents: The Guidelines stipulate that the accumulative external investments (including the investment capital raised by the current issue) of an issuer shall not exceed 50% of its net assets (Item One). The Guidelines also state that where the issuer uses private share offers to absorb the assets or equity interest of merged enterprises, there should be at least a year's time between the last issue and the new issue (Item Three).
Related legislation: PRC, Company Law (Amended), Oct 27 2005, CLP 2005 No.10 p21

clp reference:3710/02.05.28promulgated:2002-05-28

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