CSRC's New Circular Puts Spin-off Listings in the Spotlight

September 02, 2004 | BY

clpstaff &clp articles

CSRC has released a new circular which governs spin-off listings of subsidiaries of A share-listed companies.

By Sherry Yin, Edward Fung and Ying Zhu, Coudert Brothers

Striving to clear up the ambiguity that has traditionally surrounded attempts by A share-listed companies to spin-off with a subsequent separate offshore listing (which we can refer to as an Offshore Spin-off Listing), on August 10 2004 the China Securities Regulatory Commission (the CSRC) released the Certain Issues Regarding the Regulation of Offshore Listing of Subsidiaries of Domestic Listed Companies Circular (the Circular). While a number of A share-listed companies may feel reassured that the criteria for an Offshore Spin-off Listing have finally been laid out, some other listed companies and investors may find their rosy picture of access to offshore financing dashed to pieces.

Offshore Spin-off Listings

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