>>>welcome visitor, haven't logged in. Login
Subscribe Now Home Contact us  
Font Size:  A A A Search “Fabao” Window English 中文 = 简体  繁体
  Favorite   DownLoad   Print
 
Decision of the China Securities Regulatory Commission to Amend the Measures for the Administration of the Offering and Underwriting of Securities (2017) [Effective]
中国证券监督管理委员会关于修改《证券发行与承销管理办法》的决定(2017) [现行有效]
【法宝引证码】

 
Order of the China Securities Regulatory Commission 

中国证券监督管理委员会令

(No. 135) (第135号)

The Decision to Amend the Measures for the Administration of the Offering and Underwriting of Securities, as deliberated and adopted at the 5th chairman's executive meeting of the China Securities Regulatory Commission on August 28, 2017, is hereby issued, and shall come into force on the date of issuance. 关于修改〈证券发行与承销管理办法〉的决定》已经2017年8月28日中国证券监督管理委员会2017年第5次主席办公会议审议通过,现予公布,自公布之日起施行。
Chairman of the China Securities Regulatory Commission: Liu Shiyu 中国证券监督管理委员会主席:刘士余
September 8, 2017 2017年9月8日
Decision to Amend the Measures for the Administration of the Offering and Underwriting of Securities 关于修改《证券发行与承销管理办法》的决定
I. Paragraphs 2 and 3 of Article 9 are amended to read: “Where the manner of book building is adopted in an IPO of stock, if the total number of shares is 400 million or less after the public offering, the initial size of the placing tranche shall account for not less than 60% of shares in the public offering; or if the total number of shares after the public offering exceeds 400 million, the initial size of the placing tranche shall account for not less than 70% of shares in the public offering. In particular, not less than 40% of shares offered under the placing tranche shall be first placed with securities investment funds established by public offering (hereinafter referred to as “publicly offered funds”), the National Social Security Fund (hereinafter referred to as “social security fund”) and basic pension insurance funds (hereinafter referred to as “pensions”), and a certain percentage of the stock shall be placed with enterprise annuity funds established in accordance with the Measures for the Administration of Enterprise Annuity Funds and insurance funds that satisfy the requirements of the Interim Measures for the Administration of the Application of Insurance Funds and other relevant provisions (hereinafter referred to as the “insurance funds”). If the amount of valid subscriptions from the publicly offered funds, social security fund, pensions, enterprise annuity funds, and insurance funds is less than the number of shares allocated, the issuer and the lead underwriter may place the remaining shares with other qualified investors under the placing tranche.”   一、第九条第二款、第三款修改为:“首次公开发行股票采用询价方式的,公开发行股票后总股本4亿股(含)以下的,网下初始发行比例不低于本次公开发行股票数量的60%;发行后总股本超过4亿股的,网下初始发行比例不低于本次公开发行股票数量的70%。其中,应当安排不低于本次网下发行股票数量的40%优先向通过公开募集方式设立的证券投资基金(以下简称公募基金)、全国社会保障基金(以下简称社保基金)和基本养老保险基金(以下简称养老金)配售,安排一定比例的股票向根据《企业年金基金管理办法》设立的企业年金基金和符合《保险资金运用管理暂行办法》等相关规定的保险资金(以下简称保险资金)配售。公募基金、社保基金、养老金、企业年金基金和保险资金有效申购不足安排数量的,发行人和主承销商可以向其他符合条件的网下投资者配售剩余部分。”
...... ......

Dear visitor, you are attempting to view a subscription-based section of lawinfochina.com. If you are already a subscriber, please login to enjoy access to our databases. If you are not a subscriber, you can pay for a document through Online Pay and read it immediately after payment.
An entity user can apply for a trial account or contact us for your purchase.
Tel: +86 (10) 82689699, +86 (10) 82668266 ext. 153
Mobile: +86 13311570712
Fax: +86 (10) 82668268
E-mail: database@chinalawinfo.com

 
您好:您现在要进入的是北大法律英文网会员专区。
如您是我们英文用户可直接 登录,进入会员专区查询您所需要的信息;如您还不是我们 的英文用户;您可通过网上支付进行单篇购买,支付成功后即可立即查看本篇内容;
单位用户可申请试用或者来电咨询购买。
Tel: +86 (10) 82689699, +86 (10) 82668266 ext. 153
Mobile: +86 13311570712
Fax: +86 (10) 82668268
E-mail:database@chinalawinfo.com
     
     
【法宝引证码】        北大法宝en.pkulaw.cn
Message: Please kindly comment on the present translation.
 
Confirmation Code:
Click image to reset code
 
  Translations are by lawinfochina.com, and we retain exclusive copyright over content found on our website except for content we publish as authorized by respective copyright owners or content that is publicly available from government sources.

Due to differences in language, legal systems, and culture, English translations of Chinese law are for reference purposes only. Please use the official Chinese-language versions as the final authority. Lawinfochina.com and its staff will not be directly or indirectly liable for use of materials found on this website.

We welcome your comments and suggestions, which assist us in continuing to improve the quality of our materials as we dynamically expand content.
 
Home | About us | Disclaimer | Chinese