Shanghai limits trading suspensions for M&A deals

The Shanghai Stock exchange announced new limits on suspension periods for listed companies involved in mergers and acquisitions, state media reported. Under the new requirements, which were seen as a move to increase transparency, public companies in pending M&A deals can suspend trading for no longer than 30 days, and must disclose details of a deal’s progress once a week if trading has been suspended for more than five days. In a separate measure to improve the stability of mainland markets, the China Securities Regulatory Commission formed a task force for ensuring the security of securities information.