The Ministry of Commerce (Mofcom) recently issued revised rules on the conversion of non-listed shares held by foreign investors in B-share companies into B-shares: shares trading in foreign currency on the Shanghai or Shenzhen stock exchanges.
New rules herald the end of unlisted foreign-investment shares
A new Circular makes it easier for foreign investors to get approval for the conversion of their unlisted shares into B-shares. This may finally render non-listed foreign-investment shares in these issuers obsolete. By Heiner Braun and Miles Ma, Freshfields Bruckhaus Deringer, Shanghai.
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