SHANGHAI (Reuters) - China will expand and liberalize access to its over-the-counter (OTC) market to all qualified small and medium-sized enterprises (SMEs), the Chinese State Council announced Saturday.
The announcement follows reports in state media on Friday quoting unnamed sources saying the reform could happen before the end of the year, with some saying it could come as soon as December 25, but it appears the government moved even more quickly than even insiders expected.
The China Securities Regulatory Commission, acting under instructions from the State Council, will eliminate approval procedures for applicant companies with 200 or fewer shareholders.
Thank you very much for the information. This may be very helpful for the Chinese companies listed in the US to go home. However, ABAT is still a Delaware corporation (a US company). Does ABAT need to go private to become a Chinese company before getting listed in the OTC market in China?
= before getting listed in the OTC market in China?
They don't qualify under the published guidelines.
You guys keep grasping at straws and making up all kinds of far-fetched things.
= ABAT is still a Delaware corporation
Has anybody paid the ten bucks to check and see if they are current with their Delaware filing or if they will have their corporate charter revoked next month? It all begins with the Delaware holding company.
How about their British Virgin Islands holding company that is the only thing the Delaware holding company controls... are they up to date with everything there?
You guys don't even know what you own, what you just "control" and how fragile those relationships are and how quickly everything can go POOF! Look it up. Owning shares of ABAT (Advanced Battery Technologies Inc) means you own NO assets. Not in the US. Not in the British Virgin Islands. Not in China. Now how many of you think you own assets in China? WRONG! Look it up.
China is ending a year-long moratorium on IPOs and relaxing the rules governing the way companies are approved for public trading on stock exchanges.
(12/02/13) Released by the China Securities Regulatory Commission over the weekend, the new guidelines suggest that up to 50 companies will be ready to go public by the end of January. The new listings should break the logjam of firms lining up to issue shares in China. There are currently almost 800 companies waiting for an IPO -- a list that has grown over the past year as Chinese regulators tried to support floundering equities markets by suspending new offerings. Beleaguered mainland stocks have largely missed out on the global rally, with the benchmark Shanghai Composite losing more than 22% of its value over the past three years. Since the IPO moratorium was put in place, the index has risen about 10%. China also said it was moving away from its approval-based IPO scheme -- an onerous and time consuming process that favors state-backed enterprises over small and mid-sized companies.