CSRC: Establish a shelf registration system for targeted issuance of refinancing.

Jinse Finance reported on July 3 that the China Securities Regulatory Commission (CSRC) has opened for public comment a proposal to improve refinancing rules for listed companies. The proposal will establish a refinancing targeted placement shelf issuance system. For listed companies with a relatively high level of compliance in information disclosure, those applying for bidding-based targeted share placements may adopt a one-time registration and multiple issuances approach, better matching the characteristics of a two-sided market. This will help listed companies quickly seize market opportunities to implement financing, guide them toward rational and orderly financing, and reduce market disruption from one-off large-scale financing. (Jin10)
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