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China relaxes refinancing rules for listed companies


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 . . .

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