by Richard Daverman, PhD
January 17, 2014 -- The China Securities Regulatory Commission (CSRC) has issued additional regulations for conducting IPOs under its new “market-oriented” system. In general, the rules are aimed at protecting investors by insuring that underwriters provide full disclosure of the IPO company’s situation – without discussing information that is not included in the officially reviewed prospectus. Specifically, the additional rules stress the importance of price-earnings ratios: if an IPO’s PE ratio is higher than its already-listed peers, underwriters are required to warn investors. More details....
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