BEIJING, July 3 (Reuters) - The China Securities Regulatory Commission (CSRC) on Friday proposed changes to rules for refinancing by listed companies, releasing draft revisions it said would help companies to raise capital.
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The revised rules would allow eligible companies to carry out multiple share issues via private placement after registering the plan only once, the CSRC statement said.
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This would help companies to raise funds quickly when opportunities arise and reduce shocks to the market from large, one-time financing, the regulator said.
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The revisions raise refinancing caps for certain smaller financing procedures.
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Private placement pricing will be more market-oriented to better protect small investors, the statement said.
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The regulator also plans to step up oversight of convertible bond issuance.
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China's stock exchanges in February introduced measures to facilitate refinancing by "high-quality" listed companies to help them to innovate or expand into new businesses.
Reporting by Yukun Zhang and Ryan Woo Editing by David Goodman
Source: Reuters