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New Share to Go Through Live Online Promotion Before Listing
Effective from March 1, the listing company must promote the company by way of live online broadcasting with the attendance of principal senior managers.
As the regulations made by the China Securities Regulatory Commission (CSRC) recently that the online live broadcasting through internet, including picture and literal one at least is necessary while the spot promotion is optional. The president, general manager, financial director, secretary to the board of director and the project caretaker of the lead underwriter of the listing company are required to attend the online promotion. Meanwhile, the careful and the full range preparation beforehand is needed. Besides, the listing company should promise to the CSRC in written that there will be no fake, misunderstanding statement and great omission in its announcement.
As relative caretaker from the CSRC, this measure will further strengthen information disclosing and improve the clearness of the listing company. It will also be in favor of the functioning of the public consensus, cultivate the senior managers' sense of regulated operation and set up the communicating bridge between the investor and the issuer.
In respect of the regulation, the announcement on this online promotion is to be published on the same day and the same newspaper with the prospectus and the letter of intent. Additionally, the promotion undertaking website which was appointed by the listed bourse will also post the announcement the same day. The announcement will incorporate the website name, promotion attendee, schedule (no less than 4 hours) etc. The broadcasting website needs to assure the smooth surfing of the investor. After then, the broadcasting content is asked to submit to the CSRC and the listed bourse in electric mode.
The CSRC also called on the lead underwriter to aggressively assist the issuer to do well the online promotion. (Panorama)
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