Back-door listings a cause for concern
By Cai Xiao (chinadaily.com.cn) Updated: 2014-08-15 20:24Companies in the finance and venture capital and private equity sectors cannot seek back-door listings, according to the China Securities Regulatory Commission on Friday.
The commission said requirements of back-door listing have been equal to those of an initial public offering based on related regulations.
Essence Securities is planning to go public through the shell company of Sinotex Investment & Development Co Ltd listed on the Shanghai Stock Exchange, according to a statement of Sinotex Investment & Development.
Commission spokesman Zhang Xiaojun said the Shanghai Stock Exchange is doing a feasibility research and will release its result soon.
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