Comments
China’s securities regulator issued rules on Thursday to restrict share sales by listed companies’ major shareholders, saying the move will stabilise market expectations but doesn’t signal an imminent exit of the “national team’’ of investors.
Major shareholders must not sell more than 1 per cent of a listed company’s share capital through stock exchanges’ centralised bidding system every three months, according to the rules published by the China Securities Regulatory Commission that will take effect on January 9.
In addition, major shareholders must file their plans 15 trading days in advance of sales.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.