In pursuing a backdoor listing, private companies need to be wary of the status of potential shell companies in order to ensure sustainable performance, say counsel.
The China Securities Regulatory Commission (CSRC) issued a draft regulation targeting closer supervision on merger and asset restructurings of listed companies so that, to minimise investor risk, it matches the degree of scrutiny that initial public offerings (IPOs) undergo.
The draft regulation, which is open for public comment until May 28, has raised thresholds for backdoor listings. Its purpose is to improve...
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