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New Regulations on Stock Particular Transfer Issued
Shanghai and Shenzhen stock exchanges issued announcements about elaborated Regulations on Particular Transfer of Listed Companies Friday in accordance with the Measures on Suspension and Delisting of Money Losing Listed Companies.
According to the announcements, those suspended listed companies under the following situations will not allowed to be particular transferred:
1) In the course of applying for a grace period;
2) Not applying for the grace period by the company;
3) No application submitted for the grace period within 45 days after suspension;
4) In the course of applying for resuming listing to the China Securities Regulatory Commission (CSRC);
5) Deficit made in the first fiscal year during the grace period or fiscal report denied;
6) Delisted by the CSRS;
7) Resumed by the CSRS;
8) Deadline for the grace period.
The new regulations will be put into effect on April 20, 2001. And at the same time, the two measures on suspension and delisting issued by SZSE on June 17, 2000 and by SSE in 1999 will be abolished.
Source: Panorama
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