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China to restrict foreign IPOs, may ban on national security

December 26, 2021
Source: bworldonline.com bworldonline.com
News Snapshot:
CHINA plans to tighten scrutiny of domestic firms’ overseas share sales and ban those whose listing could pose a national security threat. All Chinese companies seeking initial public offerings (IPOs) and additional share sales abroad would have to register with the China Securities Regulatory Commission (CSRC), according to a consultation paper it released late Friday. Under the proposals, firms whose overseas listings could threaten national security are barred from share sales, and companies whose activities raise cybersecurity concerns would go through security reviews. “Improving the oversight of firms listing abroad comes against the backdrop of opening capital markets, and the...
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