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The China Securities Regulatory Commission has issued drafted directives for sponsors who help to get a company listed, China Securities News reported Wednesday.
According to the directives, listing sponsors should in the first place ensure the quality of the applicants they help get listed.
Furthermore, sponsors should carefully choose the right time for applicants to go public to avoid failed initial public offerings.
Finally, as the main underwriter, sponsors should evaluate and control the risks of securities issuance and underwriting..
A listing sponsor is a securities company that guide and help companies prepare for listing by providing information about legal and regulatory requirements and by preparing prospectus and other offering-related documents.
The sponsor also helps the company throughout its listing by ensuring it meets disclosure requirements.
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