Factbox: Chinese companies scrapping share reduction plans to boost investor sentiment ...Middle East

SHANGHAI, Aug 30 (Reuters) – China has announced a series of regulatory measures in a fresh attempt to boost the struggling stock market, including a further clampdown on share reductions or sales by major investors. The new rules tighten conditions on large shareholders’ selling shares when the traded price is lower than its IPO price or net asset value per share, or when the company has not declared enough cash dividends in the past three years. More than 70 companies have vowed this week that their major shareholders would not sell shares in the coming months, or have withdrawn plans to offload shares, according to company filings. Following is a summary of company statements on Wednesd

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Factbox: Chinese companies scrapping share reduction plans to boost investor sentiment ...Middle East

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