Latest Search
Quote
| Back Zoom + Zoom - Top | ||||
|
Report: Some CN Local Securities Regulators Demand IPO Consultants to Sign Undertaking on Not Blindly Seeking Listing for Money-grabbing
Recommend 4 Positive 9 Negative 3 |
||||
|
||||
|
Jiemian.com, citing several brokerage sources, reported that some local Securities Regulatory Commissions in China have asked IPO counselling companies and their "key minority" to sign an undertaking. The 'key minority" included controlling shareholders, de facto controllers, directors, supervisors and senior management of the issuer. The content of the undertaking is basically the same as the "Opinions on Strictly Handling the Admission Criteria for IPO and Listing to Improve the Quality of Listed Companies at the Source (Trial)" (literal translation of "關於嚴把發行上市准入關從源頭上提高上市公司質量的意見(試行)"), issued by the SFC on 15 March. According to the undertaking, the "key minority" are required to make four major undertakings. They would familiarise themselves with the accuracy and completeness of the information disclosed in the application documents, as well as bear the primary responsibility for the materials. They undertook to establish a correct "attitude of listing", where with the safeguard of the modern enterprise system, listing is used to promote the excellence and strength of the enterprise and share the fruits of development with investors. They would refrain from blindly seeking listing and excessive financing for the purpose of money-grabbing. They promised to enhance the awareness of integrity, self-discipline and the rule of law, improve corporate governance, sound internal control and effective operation, and accept internal control audits as required. Finally, they swore to fully cooperate with the intermediaries in carrying out due diligence or other relevant work, fully cooperate with the supervision of the issuance and listing work by the CSRC and the Exchanges, and ensure that the contents of the documents provided are true, accurate and complete, with no false entries, misleading statements or material omissions. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
