China Eases IPO Exit Rules For Private Capital Funds

From Reuters:

China’s two national stock exchanges will make it easier for shareholders to exit their after a company lists its shares, addressing a common complaint by foreign private capital funds.

Investors buying into a company via a private placement within 12 months before it posts an prospectus will be allowed to sell their shares one year after the company’s listing, the Shanghai Stock Exchange and the smaller Shenzhen Stock Exchange said in separate statements on Friday.

The new rules will be effective from Oct. 1, the bourses said. Previously the lock-up period was 36 months.

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