15 February 2019

Blue chip firms gearing up for preferred shares, paper says

Several companies are believed to be gearing up for the new policy from the China Securities Regulatory Commission that will allow listed firms to issue preferred stock, China Securities Journal reported Tuesday. Blue chip firms from the banking, electricity and energy industries are tipped to be the front-runners to benefit from the new initiative. An analyst from CITIC Securities Co. Ltd. (6030.HK, 600030.CN) was quoted as saying that the regulator may allow companies to issue additional new shares as preferred shares, or to convert existing shares into preferred shares.

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