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Stock Exchanges To Tighten Refinancing Rules

CHINA PRESS
MNI (Singapore)

The Shanghai and Shenzhen stock exchanges will tighten refinancing rules aimed at guiding resources towards high-quality companies. The exchanges will restrict refinancing of listed companies whose share price falls below their initial offer price or their net asset value. Meanwhile, listed companies with a relatively high proportion of financial investments must reduce the amount of funds raised through refinancing, and refinancing projects must be closely related to their existing main businesses. (Source: China Securities Journal)

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