SHANGHAI: Listed Chinese companies are queuing up to issue shares and have already announced plans to raise more than US$10 billion in the past week after fundraising rules were relaxed to help ease cash strains caused by the coronavirus.
The changes also make the deals more attractive to investors by halving the lock-up periods and enabling more flexible pricing. The share sales will also be helped by a resurgent stock market. The blue-chip CSI300 has rebounded roughly 13 per cent from a low hit on Feb 3 when traders returned after the new year break, compared with 3.8 per cent for the US S&P 500 benchmark over the same period.China cut its benchmark lending rate on Thursday, helping lift the tech-heavy ChiNext index to the highest level in almost three years.
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