BEIJING, March 26 (Xinhua) -- China Securities Regulatory Commission (CSRC) Monday stated that each qualified subscriber registered in the same institutional investor is only allowed to use one securities investment account in its offline convertible bond subscription, reported Xinhua-run China Securities Journal Tuesday.
Such a move is taken to offer fair treatment to online and offline convertible bond investors, said the securities regulator in its written answers to questions relating to securities issuance supervision posted on its website Monday.
Currently, online subscription of convertibles only allows one investor to use one of its securities investment account in China.
As CSRC provides, for an institutional investor managing more than one securities investment products, each of its securities investment product shall be deemed as one qualified subscriber in its offline subscription of convertible bonds.
For other types of institutional investors, each of them is regarded as a qualified subscriber for offline primary-market convertible bond offering.
What’s more, CSRC tightens asset requirement over offline convertible bond investors, who shall not subscribe for convertibles with value in excess of their assets value. Enditem (Edited by Duan Jing, duanjing@xinhua.org)
A single purchase
