神秘内容 Loading...

证监发行字[2004]162号

(Issued by the China Securities Regulatory Commission on 7 December 2004 and effective as of 1 January 2005.) (来源:EnglishCN英语问答中心[e问e答])

颁布日期:20041207  实施日期:20050101  颁布单位:中国证监会

  (Zheng Jian Fa Xing Zi [2004] No. 162)

  To all companies that make an initial public offering, securities investment fund management companies, securities companies, trust and investment companies, finance companies, insurance institutional investors and qualified foreign institutional investors (QFII):

  In order to protect the lawful rights and interests of investors, strengthen market constraints and improve the mechanism for the formation of share issue price, we hereby issue the following circular on several issues concerning the trial implementation of price inquiry system for initial public offering of shares:

  1. A company that makes initial public offering of shares (the Issuer) and its sponsor institution shall determine the issue price of the shares by means of price inquiry to inquiry targets.

  For the purposes of this Circular, the term “inquiry targets” shall refer to securities investment fund management companies, securities companies, trust and investment companies, finance companies, insurance institutional investors and qualified foreign institutional investors (QFII) that meet the conditions stipulated by the China Securities Regulatory Commission (CSRC), and other institutional investors recognized by the CSRC.

  2. When an Issuer and its sponsor institution announce the issue price and the issue price-earnings ratio, the earnings per share shall be calculated on the basis of the net profit before or after deduction of non-recurring profit and loss, whichever is lower, for the year prior to the issue as audited by an accounting firm divided by the total share capital following the issue.

  Where the Issuer provides an earnings forecast, it shall also disclose supplementary information on the issue price-earnings ratio based on the earnings forecast. The earnings per share shall be calculated on the basis of the projected net profit before or after deduction of non-recurring profit and loss, whichever is lower, for the year of the issue as audited by an accounting firm divided by the total share capital following the issue.

  The Issuer may at the same time disclose other issue price indicators such as price-to-book ratio that reflects the characteristics of the industry to which the Issuer belongs.

  3. After an offering application has been verified and approved by the CSRC, the Issuer shall publish a letter of intent to offer shares and commence promotion and price inquiry. Price inquiry shall be divided into two stages, namely, preliminary price inquiry and book-building price inquiry. The Issuer and its sponsor institution shall determine the issue price range through the preliminary price inquiry and the issue price through the book-building price inquiry.

  The aforementioned letter of intent to offer shares shall be consistent with the prospectus in contents and format, with the exception that it may not include the issue price and the amount of capital to be raised, and shall have the same legal validity as the prospectus. The Issuer and its sponsor institution shall assume corresponding legal liability for the truthfulness, accuracy and completeness of the letter of intent to offer shares.

  In the preliminary price inquiry, the sponsor institution shall provide the inquiry target with an investment value research report prepared in accordance with the provisions hereof.

 
神秘内容 Loading...

你可能对下面的文章也感兴趣:

·《外商投资电影院暂行规定》的补充规定 《Foreign
·互联网著作权行政保护办法 Administrative Protec
·直销怎么说?看直销管理条例 Administration of D
·传销怎么说?看禁止传销条例 Prohibition of Pyra
·外商投资广告企业管理规定 Administration of For
·双语:大西洋宪章 THE ATLANTIC CHARTER
·外商投资创业投资企业管理规定 Administration of
·人民币银行结算账户管理办法 Administrative Rule
·驰名商标认定和保护规定 Recognition and Protect
·制止价格垄断行为暂行规定 Prohibition of Acts o

共3页: 上一页 1 [2] [3] 下一页
上一篇:深圳市出租屋管理若干规定 Rules of Shenzhen Municipality on the Administration of Leasing Hou  
下一篇:深圳市医疗废物集中处置管理若干规定 Administrative Rules of Shenzhen Municipality on the Centraliz
[推荐] [返回顶部] [打印本页] [关闭窗口]