CSRC defines issues related to Hong Kong listed companies’s allotment of shares to mainland investor ghost observer

China Securities Regulatory Commission, Hong Kong listed companies to mainland investors rights issues related to new network in September 30, in the new network – according to the SFC website news, in order to regulate the mainland and Hongkong stock market trading interconnection mechanism of listed company shares related activities, to protect the legitimate rights and interests of investors, according to the "Securities Law" and the "mainland and Hongkong stock market trading the interconnection mechanism of" several provisions, the Commission on Chinese "on Hong Kong stocks through the Hong Kong listed companies within the territory of the original shareholders to record provisions" placing shares were modified to further clarify the Hong Kong listed companies to mainland investors rights related matters. This amendment will only legal basis change from "certain provisions" in Shanghai and Hong Kong stock market trading pilot interconnection mechanism for "certain provisions" of the mainland and Hongkong stock market trading interconnection mechanism, not through the Hong Kong stock Hong Kong listed companies to the territory of the original shareholders of placing shares by the specific case to amend the provisions of. The CSRC will follow the following three principles in dealing with rights issues under the interconnection mechanism between Mainland China and Hongkong stock markets: one is the principle of reciprocity. Specifically, the supervision of the listing rights of the listed companies to the local investors is similar or equivalent in terms of regulatory content, regulatory methods and regulatory procedures, and the other party does not unilaterally increase additional regulatory requirements in principle. The two is the principle of mutual trust. On the basis of not changing the existing regulations of the two markets, the listed companies continue to abide by the supervision regulations and business rules of the listed places. For the listed companies to share the rights of local investors, the two Securities Regulatory Commission in the form of legal supervision in accordance with the law, mainly rely on the supervision of the other side, and establish regulatory information coordination mechanism, timely exchange and share relevant information. Three is not significantly increase the principle of additional burden on listed companies. For the listed companies to share the rights of local investors, the CSRC’s content requirements for listed companies are basically the same, as far as possible to simplify the program. There is no need for additional materials for listed companies. Deng Ge, spokesman of the CSRC, introduced that the regulations on the placement of shares by Hong Kong Stock Exchange Hong Kong listed companies to the former shareholders of the Hong Kong stock market mainly defined the process of Hong Kong listed companies’s allotment of shares through Hong Kong stock exchange, the form of submitting materials and the audit methods. After applying for approval of the Hongkong stock exchange, the Hong Kong listed companies shall submit the application materials and approval documents to csrc. CSRC will supervise and approve the approval opinions and conclusions of Hongkong. When submitting the materials for record, the Hong Kong listed companies should make a principled explanation of the text effect of the submitted materials, and make relevant commitments to the protection of the rights and interests of investors. At the same time, due to technical system reasons, for the Hong Kong listed companies shares and public offering (open placement), mainland investors declared in the proportion of the original shareholders, do not participate in the excess allotment of Hong Kong stocks. Deng Ge pointed out that through the consultation between the CSRC and the CSRC, when the A shares listed companies make shares, they also need to make allotment to Hongkong investors through the interconnection mechanism of the mainland and Hongkong stock market transactions, and follow the following process: first, submit application materials. A shares listed companies submit their rights application materials to China Securities Regulatory Commission, and the CSRC will review the application materials after the application materials have been finalized.

证监会明确香港上市公司向内地投资者配股有关事宜-中新网   中新网9月30日电 据证监会网站消息,为规范内地与香港股票市场交易互联互通机制下上市公司配股有关活动,切实保护投资者合法权益,根据《证券法》和《内地与香港股票市场交易互联互通机制若干规定》,中国证监会对《关于港股通下香港上市公司向境内原股东配售股份的备案规定》进行了修改,进一步明确香港上市公司向内地投资者配股有关事宜。   此次修改仅将法律依据由《沪港股票市场交易互联互通机制试点若干规定》变更为《内地与香港股票市场交易互联互通机制若干规定》,并未对港股通下香港上市公司向境内原股东配售股份备案具体规定作出修改。   两地证监会处理内地与香港股票市场交易互联互通机制下配股有关事宜将遵循以下三个原则:一是对等原则。具体体现为,关于对方上市公司向本地投资者配股的监管问题,两地在监管内容、监管方式和监管程序等方面大体相同或相当,一方原则上不单方面额外增加其他监管要求。二是监管相互信赖原则。在不改变两地市场现行规定的基础上,上市公司继续遵守上市地的监管规定及业务规则。对于对方上市公司向本地投资者配股的,两地证监会仅在形式上依法进行监管,主要依赖于对方的监管,并建立监管信息协调机制,及时交换和分享有关信息。三是不显著增加上市公司额外负担原则。对于对方上市公司向本地投资者配股的,两地证监会对上市公司提交材料的内容要求基本一致,尽可能简化程序。上市公司基本无需额外制作材料。   证监会新闻发言人邓舸介绍,《关于港股通下香港上市公司向境内原股东配售股份的备案规定》主要明确了香港上市公司通过港股通进行配股的流程、提交材料的形式、审核方式等。香港上市公司配股申请在取得香港联交所核准后,应当将申请材料、核准文件报中国证监会。中国证监会基于香港方面的核准意见和结论进行监督。香港上市公司在提交备案材料时,应当对提交材料的文本效力作出原则性说明,并对投资者权益保护等作出有关承诺。同时,由于技术系统原因,对于香港上市公司供股和公开招股(公开配售),内地投资者在原股东比例内申报,暂不参加港股配股超额申报。   邓舸指出,经两地证监会协商,A股上市公司配股时,亦需通过内地与香港股票市场交易互联互通机制安排向香港投资者配股,并遵循如下流程:   一是提交申请材料。A股上市公司向中国证监会提交配股申请材料,中国证监会进行审核,在申请材料基本定稿后,A股上市公司与香港证监会进行联系,并以“套封”形式向香港证监会提交申请材料。香港证监会于收到申请材料起5个工作日内完成审核流程,并向A股上市公司发出“原则同意授权函”。“套封”主要是指对提交的材料,制作一个封皮,封皮的主要内容包括:股份上市地;明确香港证监会不对提交材料的内容负责;明确投资者应当仔细阅读招股说明书等相关材料;明确申请材料已由会计师、律师、评估师等发表专业意见,并且这些专业意见不可撤回。   二是中国证监会发放批文。中国证监会自主依法作出是否核准配股的决定。在中国证监会发放核准配股的批文前,若A股上市公司对配股说明书作出重大修改,或是其他申请材料(如会计师、律师意见等)发生重大变化,A股上市公司应及时通知香港证监会提交修改后的申请材料。   三是路演及确定发行价。A股上市公司获得中国证监会发出的核准配股批文后,进行路演,并确定发行价格。   四是募集资金。在确定发行价后,A股上市公司将对外公布的配股说明书,加盖套封,连同一份简短的关于批准登记的“申请函”,提交香港证监会。香港证监会据此向香港公司注册处发出关于批准登记的“证明书”。A股上市公司持该“证明书”,以及经套封的配股说明书,送交香港公司注册处进行登记,然后办理后续资金募集相关流程。   邓舸强调,A股上市公司向香港证监会提交申请材料的内容,应当与向中国证监会提交的申请材料一致,无需对申请材料作额外调整或补充,无需另行在香港聘请律师、会计师等,无需将申请材料转换为繁体中文版或英文版。香港证监会将豁免A股上市公司缴纳授权费(目前为1.5万港元),但A股上市公司仍需向香港公司注册处缴纳登记费(目前为1415港元)。   此外,由于内地与香港股票市场交易互联互通机制下股票买卖时间会受内地与香港公共假期的影响,两地上市公司应征询对方中央结算机构对配股发行时间安排的意见。   邓舸表示,下一步,两地证监会将根据内地与香港股票市场交易互联互通机制下上市公司配股实践情况,进一步完善有关监管安排,保护投资者合法权益,确保内地与香港股票市场交易互联互通机制平稳运行。相关的主题文章: