China Securities Regulatory Commission, Supplementary Provisions for the Pricing of Shares Issued for Material Asset Reorganisation of Listed Companies that are to Undergo Bankruptcy Restructuring

中国证券监督管理委员会关于破产重整上市公司重大资产重组股份发行定价的补充规定

December 18, 2008 | BY

clpstaff &clp articles &

Negotiation of share prices allowed for bankruptcy restructuring

Clp Reference: 2500/08.11.11 Promulgated: 2008-11-11 Effective: 2008-11-12

Issued: November 11 2008
 Effective: November 12 2008

Main Contents: Where a bankruptcy restructuring of a listed company involves a major asset reorganisation and a proposed share issuance to purchase assets, the price for the shares to be issued, determined upon consultation among the relevant parties, shall be submitted to the shareholders' general meeting for resolution. The resolution shall be passed by public shareholders present at the meeting representing more than two-thirds of the voting rights.

Related Legislation: PRC Enterprise Bankruptcy Law , Aug 27 2006, CLP 2006 No.8 p.39; PRC Securities Law (Amended) , Oct 27 2005, CLP 2006 No.1 p.31; and Measures for the Administration of Material Asset Reorganisations by Listed Companies , Apr 16 2008, CLP 2008 No.5 p.44

clp reference:2500/08.11.11promulgated:2008-11-11effective:2008-11-12

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]