China Securities Regulatory Commission, Guidelines on the Application of Regulatory Rules: Information Disclosure by Shareholders of Enterprises Applying for Initial Public Offerings

Main contents: Where an offeror has added a new shareholder during the 12 months prior to submission of its application, it shall fully disclose in the prospectus the basic particulars of the new shareholder, the reason why it acquired the equity interest, the price of such acquisition and the pricing basis, whether an affiliated relationship exists between the new shareholder and other shareholders, directors, supervisors or senior executives of the offeror, whether an affiliated relationship exists between the new shareholder and the intermediaries involved in the contemplated offering and their persons in charge, senior executives or handling officers, and whether the new shareholder holds shares as the nominee of a third party.