The equity fundraising plans of mainland Chinese companies have been disrupted by the summer's A-share rout, prompting many to try to restructure their plans or find alternative sources of capital.
At least six companies listed in Shanghai or Shenzhen have targeted a combined Rmb63 billion $9.8 billion via share sales, according to regulatory filings. However, these plans have stalled because of plunging share prices.
Unlike Hong Kong where follow-ons are mostly done through accelerated bookbuilds, A-share companies are required to announce their fundraising plans before submitting them to regulatory and shareholder approvals. They are required to disclose details including the maximum...
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