Media365
The three operators said they would shorten waiting periods for listed technology firms filing for refinancing or post-initial-public-offering (IPO) fundraising activities, cutting the refinancing interval to as little as six months, according to state news agency Xinhua.
This applies to tech firms listed under unprofitable company rules and is down from the standard 18-month gap set on consecutively loss-making companies under the 2023 restrictions.
Previously, companies could use at most 30 per cent of funds raised to top up working capital. Regulators relaxed the threshold by allowing eligible firms to channel any excess above that cap into research and development tied to their core business.
The exchanges aimed to streamline refinancing reviews for “quality companies with strong governance and disclosure records”, Xinhua reported.
The reforms signal Beijing’s support for quality firms and scientific innovation, it said.
