This week's legislation in brief
June 01, 2012 | BY
clpstaff &clp articles &Includes: approval of foreign investment in futures companies and share offerors and lead underwriters can determine offering prices through negotiation
China Securities Regulatory Commission, Circular on Issues Relevant to the Pricing of Newly Offered Shares
中国证券监督管理委员会关于新股发行定价相关问题的通知
An offeror needs to convene a board meeting if the price-earning ratio of its proposed share price is higher than the industrial average by 25%. The lead underwriter is required to disclose the reasonableness and the risk analysis of the pricing.
China Securities Regulatory Commission, Measures for the Administration of the Offering and Underwriting of Securities (2nd Revision)
中国证券监督管理委员会证券发行与承销管理办法 (第二次修订)
The revised Measures allow the share offeror and lead underwriter to determine the offering price through negotiation between themselves or a method other than price inquiry.
Full text translation available in the July/August issue
See also:
China Securities Regulatory Commission, Provisions on Issues Relevant to the Change of Registered Capital or Equity of Futures Companies
中国证券监督管理委员会关于期货公司变更注册资本或股权有关问题的规定
After four years of suspension, the CSRC again issues a set of provisions giving green light to the approval of foreign investment in futures companies. A single foreign investor may indirectly hold an equity interest of less than 5% in a futures company.
Full text translation available in the July/August issue
See also:
This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- 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
Already a subscriber? Log In Now