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Chinese regulators close loophole in relaxed refinancing rules after companies flock to issue shares

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Many Chinese companies have said they could change plans to issue shares in private placement after the securities regulator tightened a rule in the relaxed regulations designed to make it easier for companies to raise funds to battle the economic impact of the coronavirus.

Last month, the China Securities Regulatory Commission (CSRC) eased rules for private placements, allowing bigger sales at deeper discounts and increasing the maximum number of participating investors allowed.

Notably, only “strategic . . .

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