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Article: MORE CHINESE FIRMS UNVEIL SPLIT SHARE STRUCTURE REFORM SCHEMES.
- Article from:
- AsiaPulse News
- Article date:
- June 29, 2005
CopyrightCOPYRIGHT 2005 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SHANGHAI, June 29 Asia Pulse - Five more of the second batch of 42 Shanghai and Shenzhen-listed companies approved to pilot split share structure reform announced their reform schemes on June 29.
Split share structure means the existence of both negotiable and nonnegotiable shares in a same Chinese listed company for historic reasons. Generally, only about one-third of the shares of Chinese listed companies are held by the public and tradable on the secondary market, while the remaining two-thirds are held by the state and legal persons and so far not tradable on the Shanghai and Shenzhen stock exchanges.
The on-going reform is to make the nonnegotiable ...