China Securities Regulatory Commission, Questions and Answers Relating to the Offering of Shares to Simultaneously Purchase Assets and Raise Ancillary Funds by Listed Companies

中国证券监督管理委员会关于上市公司发行股份购买资产同时募集配套资金的相关问题与解答

July 05, 2016 | BY

Susan Mok &clp articles

Shares from Raising of Ancillary Funds Not Counted to Prevent Circumvention of Backdoor Listing Requirements.

Issued: June 17 2016

 

Main contents: When determining whether the transaction circumstances set forth in Article 13 of the Measures for the Administration of the Material Asset Restructurings of Listed Companies are constituted, if the listed company's controlling shareholder, de facto controller and the persons acting in concert therewith propose to subscribe for the raising of ancillary funds, the corresponding shares are to be removed from the calculation when determining whether there is a change in control.

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]