April 13, 2018 / 9:51 AM / 9 days ago

Shanghai exchange toughens disclosure rules for major shareholders

SHANGHAI (Reuters) - Shareholders holding stakes of at least 5 percent of the outstanding shares in a company will need to disclose any change in their holdings in excess of 1 percent, according to guidelines published Friday on the website of the Shanghai Stock Exchange.

The new guidelines would bring the disclosure rules on the Shanghai Exchange basically in line with the rules on the Hong Kong exchange, the guidelines said.

Reporting by Andrew Galbraith; Editing by Christian Schmollinger

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