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Corporate Bonds Listing Rules of Shanghai Stock Exchange (SSE) (1996) - Stopping Listing, Resumption of Trading, Suspension of Listing, Restoration of Listing, and Termination of Listing

Article 25 An issuer shall, when announcing the information as prescribed in Articles 5.2, 5.3, and 5.4 on the trade day, stop listing for half a trade day in the morning of the current day, and resume trading at the time of opening the market in the afternoon of the current day.

Article 26 After the bonds are listed for trading, if the issuer has one of the following circumstances, this Stock Exchange shall stop the listing of the bonds, and issue opinions on whether to suspend its listing and trading within 3 workdays, and report to CSRC for approval.

The issuer has grave illegal act;

The enterprise changes greatly, and no longer complies with the bonds listing conditions;

The capital raised through the bonds is not used in accordance with the usage approved by the department of examination and approval;

It fails to fulfill the obligations on paying interests on time in accordance with the measures for bonds collection;

Loss occurs in the enterprise in recent two years; and

Other reasons for which the listing shall be suspended as believed necessary by this Stock Exchange.

After the aforesaid circumstances are eliminated, the enterprise may file an application to this Stock Exchange for restoring listing, and this Stock Exchange shall bring forward opinions within 3 workdays after receiving the application, and shall restore the listing of the bonds after reporting to and being approved by CSRC.

Article 27 In case the bonds have one of the following circumstances, the listing shall be terminated:

In case the issuer has one of the following circumstances as listed in items (1) and (4) of the previous Article, and the consequences are serious after investigation, or it has one of the circumstances as listed in items (2), (3), and (5) of the previous Article, and the circumstance is not eliminated within the time limit, CSRC shall determine to terminate the listing of the bonds.

In case the enterprise is dissolved, is ordered to close up according to law, or announced bankrupt, this Stock Exchange shall terminate the listing of its bonds, and report to CSRC for archival filing.

The listing for trading of bonds shall be terminated one week before the bonds expire.

 
 
 
   
 
 
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