The top securities regulator has vowed to accelerate the approval process for mergers and acquisitions and facilitate related financing activities, as part of its efforts to help listed companies resume production and improve fundamentals.
"We will continue supporting epidemic control on the one hand, while accelerating the approval process and enhancing the approval efficiency for M&As on the other hand," the China Securities Regulatory Commission said in a statement late on Friday.
Listed companies are allowed to adjust the arrangements of financing activities associated with M&As, so as to take advantage of the recently relaxed re-financing regulations and facilitate the transactions, the CSRC said.
Particularly, for stock financing activities planned for approved M&As, listed firms can adjust such terms as the price of stocks to be issued, the number of investors, and the lock-up period, but are not allowed to increase the sum of money to be raised, the commission said.
The above moves are aimed at helping listed firms tackle the novel coronavirus outbreak, resume production, and achieve a healthy development, the statement said.