Chinese listed companies flocking to issue shares after refinancing rules relaxed

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Listed Chinese companies are flocking to raise funds through private placement after authorities relaxed refinancing rules to help ease cash strains amid the slowing economy and the coronavirus outbreak.

More than 50 companies have published as of Thursday fresh or revised plans to raise as much as 73 billion yuan ($10.4 billion) through private placements, according to calculations based on their filings to stock exchanges.

According to data from Wind Information, a total of 17 Guangdong-based companies have adjusted their refinancing plans, aiming to raise combined 22.6 billion yuan.

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