China has released more detailed requirements for companies seeking listing on the new Science and Technology Innovation board, including rules on the companies' shareholding structure and "bet-on agreements", among other issues.
Companies applying to list on the new Nasdaq-style technology board cannot have major stakeholders or actual controllers that are asset management plans, trust plans and private equity funds managed by financial institutions because such complex ownership structures make companies more opaque, according to a statement released by the Shanghai Stock Exchange on Monday.
If any of the above mentioned entities are major stakeholders, the applicant companies must . . .
To continue reading, please subscribe.
We highly value independence. Yuan Talks is solely funded by subscriptions from thousands of intelligent readers like you.
What you'll get:
- Systematic, timely and data-driven reporting on China's economy and financial markets with details, data and perspectives you don't read elsewhere!
- Daily Brief newsletter delivered before market open every weekday wrapping up the most important China-related stories.
- Weekly Market Wrap-up on A shares, Chinese bonds, the Yuan and commodities!
- Interviews with China experts. We find you insights you should never miss!
- Conference calls and events. Nothing is better than talking to newsmakers, experts and reporters directly, right?
Already have an account? Sign In