The China Securities Regulatory Commission (CSRC) said it will soon launch a support system for the initial public offering (IPO) reform plan and strictly implement a delisting system, China Daily reported over the weekend. Measures for the administration of securities issuance and underwriting, the IPO pre-announcement system, and guidance on information disclosure will be released soon after going through relevant legislative processes, CSRC spokesman Deng Ge was quoted as saying. On the delisting process, the regulator is seeking to increase the frequency of delisting information disclosures, improve the content of disclosures and enhance supervision to fully reveal risks for investors. A time period will be set for investors in companies that will be delisted to consider whether to sell their shares or hold them, according to the plan. Shares of delisted companies may be transferred to the National Equities Exchange and Quotations board, an equity exchange system for small and medium-sized enterprises, the report said.
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