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SSE, SZSE To Regulate Share Reductions Further

CHINA PRESS
MNI (Singapore)

The Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) plan to regulate shareholding reduction activities further. According to a notice issued on Tuesday, if a listed company experiences a breach of the issuance price or net asset value, or it has not paid cash dividends in the past three years or the cumulative cash dividends amount to less than 30% of the average net profit over the past three years, the controlling shareholder or actual controller will not be able to sell the company's shares through the secondary market. (Source: 21st Century Business Herald)

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