06/07/2018
Frankfurt/Main, Germany, July 6, 2018 – On July 6, 2018, China Europe International Exchange (hereinafter “CEINEX”) published the “General Terms and Conditions for CEINEX D-Share Market” (hereinafter “General Terms and Conditions”). The General Terms and Conditions complement the regulatory framework of the CEINEX D-Share Market and underline its premium positioning for Chinese blue-chip companies in European capital markets.
The General Terms and Conditions constitute the main body of the listing agreement between CEINEX, which provides listing services to issuers incorporated in China, and the share issuing company in the CEINEX D-Share Market. Issuers, who apply for the accession to the CEINEX D-Share Market, which is a part of the EU-regulated market of Frankfurt Stock Exchange (hereinafter “FSE”), shall sign a separate listing agreement with CEINEX.
The General Terms and Conditions define the standards for accession to the CEINEX D-Share Market and on-going obligations by the issuing company after listing as well as services offered by CEINEX. Concerning the qualification for accession to CEINEX D-Share Market, the applying issuer must be incorporated in accordance with the Company Act of the People’s Republic of China and its shares are admitted to the EU-regulated market of FSE under Prime Standard. Moreover, applying issuers that already have shares listed on another exchange are expected to have a good record without any sanctions or alerts received from securities regulatory authorities. The potential candidates for a primary listing should either have shown a considerable profitability or an expected sufficient large market capitalization. By organizing D-Share Market promotion events, providing training programs on certain topics, developing recommended practices and guidelines for issuers and keeping in touch with regulators both in China and in Germany, CEINEX will continuously identify and address issues of common concern for D-share issuers and promote the integrity of the D-Share Market as well as its branding.
The General Terms and Conditions clearly position the CEINEX D-Share Market as the top-level securities board for Chinese blue-chip companies in Europe and serve to complement the regulatory framework of the FSE market. The construction of this framework was supported by profound pre-investigation and research work to solicit opinions from a variety of market participants concerning the feasibility, contents and structure as well as specific provisions of the General Terms and Conditions.
Dr. CHEN Han, the CO-CEO of CEINEX, explained: “The publication of the “General Terms and Conditions for CEINEX D-Share Market” is a milestone for the development of the CEINEX D-Share Market. Hereby CEINEX is developing a clearly defined cross-border financing platform for Chinese enterprises that offers new investment opportunities for international investors in a familiar market infrastructure, demonstrating CEINEX’s but also the Chinese issuers’ strong commitment to the business and legal environment of the European capital market. In a next step, CEINEX will devote and intensify the dialogues with issuers, regulators and market players to ensure a stable kick-off for the CEINEX D-Share Market.
About China Europe International Exchange AG (CEINEX)
Based in Frankfurt/Main, Germany, CEINEX is a joint venture established by the Shanghai Stock Exchange, the Deutsche Börse Group, and the China Financial Futures Exchange. As the first market place for RMB-related and China-related investment products in the Chinese offshore market, it acts as a unique bridge between the Chinese and international financial markets. CEINEX is dedicated to providing reliable offshore RMB- and China-related financial instruments to investors, so as to promote RMB internationalization.
About D-Shares
D-Shares refer to shares issued by companies limited by shares incorporated in Mainland China and listed in Germany. CEINEX utilizes the infrastructures of DBAG for all D-Share listings and trading. D-Share issuance is subject to the prior approval of the China Securities Regulatory Commission (CSRC) and the prospectus shall be approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin). D-Shares are eligible to be traded on Xetra®, the fully electronic trading platform of Deutsche Börse Cash Market. D-Share listing requirements and procedures follow the rules and regulations of the regulated market of the Frankfurt Stock Exchange (FSE) under European regulatory standards. D-Share listed companies need to comply with follow-up obligations of the Prime Standard segment of Deutsche Börse).
Media contacts for CEINEX:
- German and English Speaking Media
Mr. Sascha Dettmar
sascha.dettmar@ceinex.com / +49 69 2474 159 66
- Chinese and English Speaking Media
Ms. Huanyu Zhou
huanyu.zhou@ceinex.com / +49 69 2474 159 65
China Europe International Exchange AG (CEINEX)
Friedrich-Ebert-Anlage 35–37
60327 Frankfurt am Main, Germany