China’s securities regulator said it will allow property developers to sell shares to raise funds, lifting a years long ban on equity refinancing as Beijing steps up support for the embattled sector, reports the South China Morning Post.
The China Securities Regulatory Commission (CSRC) late on Monday rolled out five measures to facilitate equity financing for Chinese developers, including allowing mergers and acquisitions, restructuring and private share placements. The rules apply to companies listed on mainland Chinese markets and in Hong Kong.
The CSRC also said it will optimise real estate investment trusts to revitalise property assets and start a pilot programme for real estate private equity funds.
