论文部分内容阅读
证监会2013年11月30日召开新闻发布会,发布《关于进一步推进新股发行体制改革的意见》,并表示暂停一年多的IPO预计将于2014年1月份重新启动。点评:《意见》正式版本与此前征求意见稿基本一致,突出市场化发行,引入券商自主配售机制,从审批制逐步向注册制靠近,大方向上继续推进新股发行制度的市场化改革。主要亮点包括:缩短审批时间,提前招股书披露时间,延长核准文件有效时间;引入券商自主配售机制,提高网下配售比例并优先向机构投资者配售。
On November 30, 2013, the SFC held a press conference to issue the Opinions on Further Promoting the Reform of IPO System and indicated that the IPO, suspended for more than a year, is expected to be restarted in January 2014. Comments: The official version of “Opinions” is basically the same as the previous version of the draft for solicitation of opinions and promulgates the market-oriented issuance and introduces the independent placement mechanism of securities companies. From the examination and approval system to the registration system, the reform of marketization of IPO system continues to be promoted. The main highlights include: shorten the approval time, the disclosure of the prospectus in advance to extend the effective time of the approved documents; the introduction of securities dealers independent placement mechanism to increase the proportion of placement under the net and give priority to placing institutional investors.