China relaxes refinancing rules for listed companies

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China has relaxed rules on private placements for listed companies and removed profitability requirements to encourage more firms to raise funds through share sales.

Chinext-listed firms seeking private placement are no longer required to be profitable for the past two consecutive years, according to a statement released by the China Securities Regulatory Commission on Friday.

Meanwhile, the regulator removed the requirement for candidate companies to have debt-to-asset ratio above 45 per cent, according to the statement.

CSRC said it would encourage listed companies to bring in strategic investors and the . . .

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