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Listed Firms Criticized for Irregularities in Asset Deals
The China Securities Regulatory Commission (CSRC) Tuesday issued a public criticism of 12 firms for irregularities in the purchase and sale of major assets.
The Hengyang Jinli Agricultural Science and Technology Co. and 11 other firms were disciplined for failing to register the deals with the watchdog or disclose the opinions of the intermediate organizations on the deals, as required by relevant rules.
According to the CSRC, the 12 firms accounted for nearly one-third of listed firms that reported major asset deals in 2000.
The CSRC hopes that the public criticism will remind listed firms of their obligations to disclose information regarding major asset deals for the benefit of investors and the healthy development of the stock market.
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