BEIJING, Aug. 25 (Xinhua) -- China's securities regulator issued special provisions for major mergers and acquisitions (M&A) of listed companies on the STAR Market, a Nasdaq-style technology board which started trading about a month ago.
In order to standardize the M&A on the board, the China Securities Regulatory Commission (CSRC) issued the special provisions for major asset restructuring of STAR Market listed companies.
The provisions highlight the inclusiveness and adaptability of the STAR Market, stipulating key issues such as standards for major asset structuring.
The listed companies shall comply with "the registration system" for purchases of assets through floating shares, and such purchases shall first be examined by the Shanghai Stock Exchange, which will then send the results to the CSRC.
The CSRC shall decide whether to approve the registration application within five trading days, according to the provisions.
The registration system, with more focus on a company's information disclosure, will improve the efficiency of the M&A of STAR Market companies, according to the CSRC.
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