13 December 2018

Shanghai bourse tightens rules on info release, paper says

The Shanghai stock exchange has told listed firms to improve the way they release information about major asset overhauls, the Shanghai Securities News reported Tuesday, citing the exchange. Under new exchange guidelines, companies must hold presentations for investors before revamp plans get under way, and boards should conduct due diligence to prevent overhauls from being cancelled without reasonable cause. In addition, firms must release more information if they plan to extend a trading suspension for a revamp, and continue to disclose information after revamp plans are published, the report said.

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