|
[Administrative Approval Item] Approval for Listing of Stocks
[Provisions applicable to the basis, conditions, procedure and term for the review]
Article 43 of the Securities Law: “When a joint stock company applies to have its stocks listed, it shall submit an application to the securities regulatory body of the State Council for approval.”
Article 153 of the Company Law: “When a joint stock company applies to have its stocks listed, it shall submit an application to the State Council or the securities regulatory body authorized by the State Council for approval.”
Article 152 of the Company Law: Where a joint stock company apples to have its shares listed and traded, the following conditions shall be satisfied:
(1) the shares have already been issued to the public upon the approval of the securities regulatory body under the State Council; (2) the total equity of the company shall be no less than CNY 50 million; (3) the company must have been in operation for at least three years and have been making profits for the last three consecutive years; the business operation of a company which is converted from a State-owned enterprise according to law or which is newly incorporated after the implementation of this Law with the medium and large-sized State-owned enterprises as the main promoters may be traced back without interruption to the original enterprise or the main promoters; (4) the number of the shareholders holding shares with the face value of CNY1,000 or more is not less than one thousand and the shares issued to the public amount to 25% or more of the total shares; where the company has a total equity of more than CNY 400 million, the ratio of the shares issued to the public must account for 15% or more of the total shares; (5) the company must have no records of involvement in serious illegal activities for the last three years, and its financial and accounting statements must contain no false information in the same period; and (6) other conditions as stipulated by the State Council.
Article 1 of the Circular concerning the Issues Related to Listing of the Stocks: “Your Stock Exchange is hereby authorized by the China Securities Regulatory Commission to review, in compliance with the legal conditions and procedures, the applications for listing of the stocks.”
Article 1 of the Circular concerning the Issues Related to Shortening the Interval between the Ending of Issuance and the Listing of the New Shares: “ The Stock Exchanges and The China Securities Registration and Clearing Co., Ltd. Shanghai and Shenzhen Branches (hereinafter referred to as the Securities Registration Company) shall modify the relevant operation rules and procedures to satisfy the demands for listing and trading in the shortest time possible the new shares within the existing legal framework following the issuance of new shares and the availability of the funds raised through stock issuance, so that the interval is gradually reduced to no more than seven trading days.
[List of Application Documents and Templates of Application Form]:
Article 3.1.3 of the Rules of Shanghai Stock Exchange on Listing of Stocks and the Rules of Shenzhen Stock Exchange on Listing of Stocks:
“Once the issuers apply for listing their stocks, they shall submit to the Stock Exchange the following documents: (1) the listing application form ; (2) the approval documents for stock issuance issued by the China Securities Regulatory Commission (hereinafter referred to as the CSRC) and the stock issuance and listing reports reviewed and approved by the CSRC; (3) the letters of sponsor issued by the sponsors for the stock listing; (4) the capital verification reports on all the capitals of the issuers (including the evidences to show that the ownership of the tangible assets has been transferred to the listed companies) issued by the accounting firms with professional securities qualifications; (5) the additional financial documents provided according to the related regulations following the issuance of stocks; (6) the resolutions of all the previous shareholders’ meetings; (7) the copies of business licenses concerning the establishment or change of companies following the stock issuance; (8) the listing announcements; (9) the information about the candidates for secretaries of the boards of directors recruited or to be recruited by the issuers; (10) the reports on actual shareholding of the directors, supervisors and senior executives; (11) the confirmation letters of listing abbreviations; (12) the evidences to show the custody of all the shares; (13) other documents as required by the Stock Exchange.
The China Securities Regulatory Commission
(This English version by Shenzhen Securities Information Co., Ltd. is for your reference only. In case any discrepancy exists between the Chinese and English context, the Chinese version shall prevail.)
| 
