STOCKS | Shenzhen Stock Exchange Seeks Public Feedback on Rules for Fixed-Price Private Placements

The Shenzhen Stock Exchange said it is seeking public comments on revisions to its implementation rules for securities issuance and underwriting by listed companies. According to Jin10, the exchange said the revisions would improve the fixed-price private placement system. The exchange said the changes aim to further regulate subscription behavior by issuance participants and clarify market expectations. It said that when a board of directors determines some issuance participants in advance, those participants would be required to specify in advance the upper and lower limits of the funds they plan to subscribe, the subscription quantity, and the principles for determining the issuance price.