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收购兼并

上市公司须提供的额外资料

对中国上市公司的收购或投资也将须遵守《外国投资者对上市公司战略投资管理办法》(“战略投资规则”)的规定。战略投资规则规范外国投资者对在上海证券交易所或深圳证券交易所上市的中国公司进行的战略投资。战略投资规则明确允许外国投资者购买A股 (a) 购买一家上市公司现有股东的A股,或 (b) 认购上市公司新发行的A股,或可适用的中国法律法规提供的其他方法。在此之前的战略投资规则,外商投资A股通常根据合格境外机构投资者(QFII)制度进行。

战略投资规则仅适用于投资于已经完成非流通股改革方案的A股公司或在中国证券监督管理委员会(“中国证监会”)完成整体非流通股改革后才上市的A股公司。根据战略投资规则,购买该等上市公司的A股须经商务部批准(在某些情况下,须经中国证监会的批准),且外国收购方必须遵守一个为期三年的禁售期。由外国投资者进行的初始投资不得低于目标上市公司已发行股份总数的10%。境外战略投资者也须符合一定的资格要求。

收购上市公司还必须遵守上市公司收购管理办法(“收购办法”)所载的强制性收购要约办法规定。根据该收购办法,若收购人取得上市公司已发行股本30%或以上,或者以其他方式取得该上市公司的控制权,则除非已获得中国证监会豁免,否则须依照收购办法确定的价格,向该家上市公司的股东发出收购全部股份的要约。

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