CSRC: Establishing a shelf issuance system for targeted placement of refinancing and additional equity offering.

The China Securities Regulatory Commission is soliciting opinions on improving the rules for refinancing of listed companies. It is proposed to establish a system for refinancing targeted issuance and shelf issuance. Listed companies with a high degree of information disclosure standards applying for competitive pricing issuance can adopt a one-time registration and multiple issuance method to better adapt to the characteristics of the bilateral market, facilitate listed companies to quickly seize market opportunities for financing, and guide them to rational and orderly financing, reducing the disturbance of large one-time financing to the market.