Article48: If the number of shares to be offered in an IPO is400 million or more, the issuer and its lead underwriter may, in the offer plan, adopt an over-allotment option.
Until the relevant plan has been implemented, the lead underwriter may not underwrite the Securities offered by the listed company.
A due diligence report shall be submitted by the lead underwriter if the issuance of financial bonds takes the form of contracted underwriting.
Merrill Lynch, an investment bank advising the consortium, is lead underwriter for these share issues but there is no commitment yet on price.
Article13: The issuer and its lead underwriter shall promote the offering and make pricing inquiries to Inquiry Recipients, and promote the offering to the public via the internet, after publication of the preliminary offer document for the IPO and the offer announcement.
Article14: If an IPO is to be listed on a small and medium enterprise board, the issuer and its lead underwriter may determine the offer price based on the results of the preliminary inquiry, without carrying out the bookbuilding procedure.
If an underwriting syndicate comprises three or more underwriters, it may have a deputy lead underwriter to assist the lead underwriter in organizing the underwriting activities.
If the issuer and its lead underwriter recommence the offering work after a suspension, they shall report the same to the CSRC in a timely manner.
Article59: Until the Securities in an offering are listed, the issuer and its lead underwriter shall prepare and announce information disclosure documents as required by the stock exchange.
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