BIZCHINA> Center
![]() |
Related
Bourse limits trading suspensions to 30 days for restructuring
By Xu Shenglan (chinadaily.com.cn)
Updated: 2008-05-21 17:20 A stock trading suspension can last no longer than 30 days before a public firm announces a major asset restructuring plan, according to a memorandum issued by the Shanghai Stock Exchange last night. With a major asset restructuring plan under discussion, a listed company should apply for a trading suspension of its stock before releasing relevant materials to its directors for a board meeting. The directorate should also pledge a 30-day limit for the suspension, according to the guide. Moreover, if a company expects its stock to be suspended from trading for more than five days in a row, it should releases reports at least once a week to inform investors of negotiations, approval, and pricing issues as well as uncertainties involved in the restructuring. The memorandum also requires listed companies to keep due secret during restructuring, warding off information leaks before the formal announcement. Meanwhile, the listing department of the bourse will not accept any trading suspension applications during trading hours, nor documents related to restructuring moves. An expert with the exchange told China Securities Journal that from now on, listed companies should carry out major asset reorganizations as the memorandums required. The exchange is responsible for scrutinizing the integrity of information disclosure files required and the authentication provided by independent financial advisors. (For more biz stories, please visit Industries)
|
主站蜘蛛池模板: 章丘市| 界首市| 杨浦区| 宿迁市| 荆门市| 上栗县| 临沭县| 安国市| 鄂温| 澄迈县| 克拉玛依市| 特克斯县| 永靖县| 安岳县| 怀集县| 磴口县| 广水市| 萨嘎县| 富锦市| 桂东县| 库尔勒市| 肥乡县| 东至县| 怀化市| 临澧县| 大邑县| 运城市| 高唐县| 泸州市| 江永县| 无极县| 霍林郭勒市| 溧阳市| 绥化市| 江城| 曲阳县| 徐汇区| 林口县| 徐州市| 沙湾县| 杂多县|