Beijing simplifies buy-back rules

PUBLISHED : Thursday, 28 August, 2008, 12:00am
UPDATED : Thursday, 28 August, 2008, 12:00am

The mainland has simplified its tender offer exemption rules to allow shareholders with stakes of 30 per cent or more to buy back shares. Shareholders raising their stakes by less than 2 per cent of the issued capital within 12 months can apply for exemption three days after the deal. But they need to disclose related information if they raise their stakes for the first time or plan to buy more later.