Chinese securities regulator unveiled rules for publicly-traded companies to spin off subsidiaries for domestic initial public offerings, in a move to provide more financing channels.
Parent companies should have been listed for at least three years and be profitable for three consecutive fiscal years, according to the China Securities Regulatory Commission (CSRC) on Friday. Excluding the spinoff unit, the parent company’s cumulative net profit should be no less than 600 million yuan, a lower requirement . . .
To continue reading, please subscribe. You will get
- IN-DEPTH & DATA-DRIVEN reporting about key trends in China's economy and financial markets
- THE WIRE - up-to-the-minute updates of market-moving news and views. We want you to be the first to know it when something important happens.
- DETAILS - We bring you details that you won't find elsewhere. General information is everywhere, but information with details and relevant to your investment is rare.
We highly value independence. We are solely funded by subscriptions from intelligent readers like you.
Already have an account? Sign In