China says will ban IPOs by firms breaking environment protection rules

Reuters News
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Posted: Jul 01, 2016 5:28 AM

SHANGHAI (Reuters) - China's securities regulator said on Friday it would ban initial public offerings (IPOs) by companies which have violated environmental protection rules over the previous 36 months.

The China Securities Regulatory Commission said the move is part of Chinese efforts to combat pollution.

The commission also said it would bar additional share sales by listed companies that break environmental rules, and will actively encourage companies to issue bonds to finance "green" business.

(Reporting by Samuel Shen and Engen Tham; Editing by Richard Borsuk)