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Protect tradable shareholders' interest Interest of the vast tradable shareholders should be protected in the ongoing split share reform, Shang Fulin, chairman of China's Securities Regulatory Commission (CSRC), was quoted as saying by the China Business News on Monday. Split share structure refers to the existence of both tradable shares and a large volume of non-tradable shares owned by the State and legal persons. According to the previous experience of pilot companies engaged in the reform, the listed companies need to provide shares or cash compensation to public shareholders so as to make all their shares tradable. It was reported that some people questioned the fairness of split share reforms, saying that tradable shareholders got the upper hand against non-tradable shareholders during the interest redistribution. Tradable shareholders, who should be masters of listing companies and the stock market, should enjoy the equal right with non-tradable shareholders, but, as a matter of fact, they have long been landed at a disadvantageous position, Shang acknowledged at a seminar on split share reform. The securities market should put focus on protection of shareholders, who make contributions to the country, he said. |
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