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Notice of the Shanghai Stock Exchange on Issuing the Detailed Implementing Rules of the Shanghai Stock Exchange for the Issue of Convertible Corporate Bonds by Listed Companies (2018 Revision) [Effective]
上海证券交易所关于发布《上海证券交易所上市公司可转换公司债券发行实施细则(2018年修订)》的通知 [现行有效]
【法宝引证码】

Notice of the Shanghai Stock Exchange on Issuing the Detailed Implementing Rules of the Shanghai Stock Exchange for the Issue of Convertible Corporate Bonds by Listed Companies (2018 Revision) 

上海证券交易所关于发布《上海证券交易所上市公司可转换公司债券发行实施细则(2018年修订)》的通知

(No. 115 [2018] of the Shanghai Stock Exchange) (上证发〔2018〕115号)

All market participants: 各市场参与人:
For the purposes of optimizing the issue and listing process of convertible corporate bonds, the Shanghai Stock Exchange (hereinafter referred to as the “SSE”) has revised the Detailed Implementing Rules of the Shanghai Stock Exchange for the Issue of Convertible Corporate Bonds by Listed Companies (see the Annex for details), which are hereby issued and shall come into force on the date of issuance. The Notice on Issuing the Detailed Implementing Rules of the Shanghai Stock Exchange for the Issue of Convertible Corporate Bonds by Listed Companies (No. 54 [2017], SSE) issued by the SSE on September 8, 2017 shall be repealed concurrently. 为优化可转换公司债券发行、上市流程,上海证券交易所(以下简称本所)对《上海证券交易所上市公司可转换公司债券发行实施细则》进行了修订(详见附件),现予发布,并自发布之日起施行。本所于2017年9月8日发布的《关于发布<上海证券交易所上市公司可转换公司债券发行实施细则>的通知》(上证发〔2017〕54号)同时废止。
Annex: Detailed Implementing Rules of the Shanghai Stock Exchange for the Issue of Convertible Corporate Bonds by Listed Companies (2018 Revision) 
特此通知。
Shanghai Stock Exchange 附件:上海证券交易所上市公司可转换公司债券发行实施细则(2018年修订)
December 28, 2018 上海证券交易所
Annex: 二〇一八年十二月二十八日
Detailed Implementing Rules of the Shanghai Stock Exchange for the Issue of Convertible Corporate Bonds by Listed Companies (2018 Revision) 附件:
 上海证券交易所上市公司可转换公司债券发行实施细则
 (2018年修订)
Chapter I General Provisions 

第一章 总则

 
Article 1 For the purposes of regulating the issue of convertible corporate bonds (hereinafter referred to as “convertible bonds”) by companies listed on the Shanghai Stock Exchange (hereinafter referred to as the “SSE”), these Detailed Rules are developed in accordance with the Securities Law, the Measures for the Administration of the Offering of Securities by Listed Companies, the Measures for the Administration of the Offering and Underwriting of Securities and other relevant provisions.   第一条 为规范上海证券交易所(以下简称本所)上市公司可转换公司债券(以下简称可转债)发行业务,根据《证券法》《上市公司证券发行管理办法》《证券发行与承销管理办法》等相关规定,制定本细则。
Article 2 These Detailed Rules shall apply to the issue of convertible bonds through the trading system of the SSE and by means of subscription under the public subscription tranche, or by means of both subscription under the public subscription tranche and subscription under the placing tranche. Issue under the placing tranche shall be organized by the issuer and the lead underwriter themselves.   第二条 可转债通过本所交易系统并采用网上申购方式发行,或同时采用网上申购和网下申购方式发行的,适用本细则。网下发行由发行人与主承销商自行组织。
Where exchangeable corporate bonds (hereinafter referred to as “exchangeable bonds”) are issued through the trading system of the SSE and by means of subscription under the public subscription tranche, or by means of both subscription under the public subscription tranche and subscription under the placing tranche, the provisions of these Detailed Rules on convertible bonds shall apply, but the provisions of Article 3, paragraph 2 of Article 10, and paragraph 1 of Article 15 on the preferential allotment of convertible bonds to existing shareholders, and the provisions of paragraph 3 of Article 24 and paragraph 1 of Article 25 shall not apply. 可交换公司债券(以下简称可交换债)通过本所交易系统并采用网上申购发行,或同时采用网上申购和网下申购方式发行的,按照本细则关于可转债的规定执行,但第三条、第十条第二款、第十五条第一款有关可转债向原股东优先配售的规定,以及第二十四条第三款、第二十五条第一款的规定不适用。
Chapter II Basic Rules 

第二章 基本规则

 
Article 3 Convertible bonds issued by a listed company may be wholly or partially allotted in priority to existing shareholders holding shares of the company (hereinafter referred to as the “existing shareholders”), and the ratio of preferential allotment shall be disclosed in the issue plan.   第三条 上市公司发行可转债,可以全部或者部分向原持有公司股票的股东(以下简称原股东)优先配售,优先配售比例应当在发行方案中披露。
The remaining bonds after preferential allotment to existing shareholders shall be available for subscription under the public subscription tranche and under the placing tranche. Existing shareholders may, in addition to participating in preferential allotment, participate in the subscription of remaining bonds after preferential allotment. 原股东参与优先配售后,余额部分用于网上、网下申购。原股东除可参与优先配售外,也可参与优先配售后的余额申购。
Article 4 An issue plan of convertible bonds shall specify the way of underwriting convertible bonds, and arrangements if the amount of valid subscriptions for bonds under the public subscription tranche and under the placing tranche is less than the total number of bonds to be issued.   第四条 可转债发行方案中应明确承销方式,以及网上、网下有效申购不足发行总量部分的处理安排。
Article 5 An issue plan of convertible bonds shall rationally determine and disclose the upper limit of bonds to be subscribed for. The minimum unit for subscription under the public subscription tranche is one lot (1,000 yuan) and the number of bonds to be subscribed for shall be one lot or an integral multiple thereof, but the number of bonds to be subscribed for under the public subscription tranche shall not exceed the upper limit of bonds to be subscribed for as determined in the issue plan, and the subscription shall be void if it exceeds the upper limit.   第五条 可转债发行方案中应合理确定并披露申购上限。网上申购最小单位为1手(1000元),申购数量应当为1手或1手的整数倍,网上申购数量不得高于发行方案中确定的申购上限,如超过则该笔申购无效。
For the purposes of guaranteeing subscription in an orderly manner, the SSE may, based on market conditions and the carrying capacity of the technical system, adjust the subscription unit, the maximum number of bonds to be subscribed for and subscription time, and announce them to the market. 为保证申购的有序进行,本所可根据市场情况和技术系统承载能力对申购单位、最大申购数量、申购时间进行调整,并向市场公告。
Article 6 Investors can only use one securities account for subscription under the public subscription tranche of convertible bonds. If the same investor uses many securities accounts to participate in the subscription of the same convertible bond, or an investor uses the same securities account to participate in the subscription of the same convertible bond for many times, the first subscription of the investor is valid, and the remaining subscriptions shall be void.   第六条 投资者参与可转债网上申购只能使用一个证券账户。同一投资者使用多个证券账户参与同一只可转债申购的,以及投资者使用同一证券账户多次参与同一只可转债申购的,以该投资者的第一笔申购为有效申购,其余申购均为无效申购。
The principle for confirming that many securities accounts are held by the same investor is that the “account holder name” and “valid identity certificate number” in the securities account registration materials are the same. 确认多个证券账户为同一投资者持有的原则为证券账户注册资料中的“账户持有人名称”“有效身份证明文件号码”均相同。
Article 7 Investors shall not subscribe for convertible bonds with unqualified, dormant or canceled securities accounts.   第七条 不合格、休眠和注销的证券账户不得参与可转债的申购。
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