Under the registration system, the first acceptance list of gem was officially generated
On June 22, in the second week after the gem reform and the implementation of the pilot registration system, the first batch of acceptance lists officially came into being, totaling 32.
As the Shenzhen Stock Exchange only accepts the relevant applications submitted by the companies under review for IPO, refinancing, merger and reorganization within 10 working days (June 15-29) from the implementation of the gem pilot registration system, the first batch of lists are in fact old faces.
Whats the next process after the enterprise is accepted by Shenzhen Stock Exchange? According to the notice on connection arrangement of audit work related to gem pilot registration system issued by Shenzhen Stock Exchange on June 12, based on the audit sequence and existing audit results of IPO enterprises under review in CSRC, Shenzhen Stock Exchange carried out audit work in accordance with the audit procedures and rules of registration system:
2. For those who have received feedback from CSRC but have not yet held the preliminary review meeting, SZSE will continue to promote the examination and inquiry work of issuance and listing according to the acceptance order and examination results of CSRC. If feedback has been implemented, SZSE will arrange the examination meeting for deliberation; if feedback has not been implemented, SZSE will arrange the examination meeting after implementation.
3. If the CSRC has accepted and has not provided feedback, the SZSE shall issue the first round of inquiry within 20 working days from the date of acceptance. The issuer, its sponsors and securities service institutions shall disclose the inquiry and reply contents on the website of Shenzhen Stock Exchange after responding to the inquiry.
According to the information released by the CSRC on June 11, there are 196 companies in the examination of gem IPO, 12 of which have passed the examination and Development Commission, 91 in the feedback stage of the CSRC, 68 in the pre disclosure and update stage and 24 in the acceptance stage.
In addition, the joint arrangement of the review work of the enterprises under review for refinancing, M & A and restructuring shall be implemented with reference to the above arrangements. According to the official website of China Securities Regulatory Commission, there are 11 enterprises under review of gem refinancing (excluding those that have passed the CSRC); in terms of M & A and restructuring, in addition to those that have been reviewed, there are 5 enterprises under review.
Receive new enterprise Declaration on June 30
In addition to preparing for the transfer of gem enterprises under review, securities companies are also preparing for the declaration of new projects.
The time required for the audit process is shorter than before, and 3 + 3 is adopted. According to the rules of Shenzhen Stock Exchange on examination and approval of gem stock issuance and listing, the total time of examination and registration by Shenzhen Stock Exchange and CSRC shall not exceed 3 months from the date of accepting the application documents for IPO. The total time for the issuer, its sponsors and securities service institutions to reply to the examination and inquiry of SZSE shall not exceed 3 months. Market expectations were further clarified.
If the application documents for issuance and listing do not meet the requirements of CSRC and SZSE, for example, the name of the documents does not match the contents of the documents, the signature is incomplete or unclear, the issuer shall supplement and correct them, and the time limit for the supplement and correction shall not exceed 30 working days.
Second, audit sequence and inquiry. The issuance and listing review institution of Shenzhen Stock Exchange starts to review in accordance with the order of acceptance of issuance and listing application documents. Within 20 working days from the date of acceptance, the first round of review and inquiry shall be put forward to the issuer through the sponsor.
After the first round of examination and inquiry, if SZSE finds new matters to be inquired, the reply of the issuer and the intermediary fails to respond to the examination and inquiry of SZSE in a targeted way, or SZSE continues to examine and inquire about its reply, and the information disclosure of the issuer fails to meet the requirements of the regulations, SZSE examination and examination institution may continue to put forward examination and examination within 10 working days after receiving the reply from the issuer Inquiries.
When the listing committee is deliberating, the members of the meeting shall express their opinions on the contents of the audit report and the preliminary audit opinions put forward by the issuance and listing audit institution, and form the deliberation opinions on whether the issuer meets the issuance conditions, listing conditions and information disclosure requirements through collegial discussion.
Fourth, submit examination opinions and registration links to CSRC. If the Shenzhen Stock Exchange passes the examination, it shall submit to the CSRC the examination opinions, relevant examination materials and the application documents of the issuer that meet the issuance conditions, listing conditions and information disclosure requirements.