22nd Sep 2008: China to ease controls on share buybacks by listed firms
The China Securities Regulatory Commission (CSRC) said it issued a draft rules yesterday which would remove many of the controls on share buybacks.
According to the draft published on the CSRC’s website, buyback offers would no longer need approval from the CSRC. Instead, upon obtaining shareholder approval for buybacks, a listed company can proceed after making a disclosure and reporting the transaction to the CSRC.
The CSRC will solicit public opinions on the draft rules until Sept 28.
Source: XFN-ASIA
Filed under: Chinese Stocks, Regulations by CSMR
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