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国深交所最新发布创业板改革并试点注册制相关业务规则及配套安排,内容涉及首发审核、再融资并购重组、发行承销等方面,其中自周一(15日)起接收中国证监会创业板首次公开发行股票、再融资、并购重组在审企业提交的相关申请。

刊登在深交所网站的《关于创业板试点注册制相关审核工作衔接安排的通知》还明确,2020年6月30日起,深交所将开始接收新申报企业提交的相关申请。

值得注意的是,在相关配套文件《深圳证券交易所创业板企业发行上市申报及推荐暂行规定》中,深交所明确,支持和鼓励符合创业板定位的创新创业企业在创业板上市,并支持传统产业与新技术、新产业、新业态、新模式深度融合,落实创新驱动发展战略,服务实体经济高质量发展。

同时,还指出,将坚守创业板定位,结合以高新技术产业企业和战略性新兴产业企业为主的板块特征,设置行业负面清单,原则上不支持房地产、采矿业、纺织业等传统行业企业在创业板上市;但与互联网、大数据、云计算、自动化、人工智能、新能源等新技术、新产业、新业态、新模式深度融合的创新创业企业除外。

深交所并称,考虑今年疫情防控特殊情况,为更好服务实体经济,在2020年7月31日前,首发、并购重组在审企业及新申报企业提交申请的,其招股说明书引用的财务报表、重大资产重组报告书引用本次交易涉及的相关资产的财务报表有效期可延长1个月。

中国中央全面深化改革委员会4月底审议通过了《创业板改革并试点注册制总体实施方案》,表示要着眼于打造一个规范、透明、开放、有活力、有韧性的资本市场,推进发行、上市、信息披露、交易、退市等基础性制度改革。

 

China finalizes new IPO rules for Shenzhen's ChiNext startup board

China has finalised new rules for companies looking to list on Shenzhen’s ChiNext board, streamlining the listing process and allowing IPO pricing to be fully determined by the market.

Spurred on by the trade war with the United States, China has sought to make it easier for startups, particularly tech firms it sees as strategically important, to gain access to domestic capital and to be less reliant on other venues such as New York and Hong Kong.

The ChiNext reforms are modeled on rules used by Shanghai’s Nasdaq-style STAR Market launched last July. Companies wanting to go public will no longer need approval from the China Securities Regulatory Commission.

Instead, the Shenzhen Stock Exchange, located in the southern tech hub, will vet applications based on disclosure rules.

There will be no price limits during the first five trading days of a newly listed stock, after which shares will be allowed to rise or fall up to 20% during a trading session,compared with 10% previously.

The new rules allow companies that have yet to turn a profit to list, but the exchange said pre-profit companies would only be allowed to apply after the first year of the reform. Companies with weighted voting rights can also now pursue a listing.

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