上市公司持续上市条件的股权分布问题探讨

Shareholding Requirement for Continuous Listing

上市公司维持上市地位需要满足一定的股权分布标准。本文针对我国证券法律体系中这一规定的不足,通过对股权分布及其标准的概念辨析、实践演进分析、国际比较研究,并从股权分置改革后股份全流通市场环境变化及2006年《证券法》实施后的制度变迁出发,探讨了我国上市公司持续上市条件的股权分布标准。

Listed companies are required to meet continuous listing standards regarding shareholding mix. However, loopholes are there in China＇ s securities regulatory regime regarding this issue. This paper probes into China＇ s existing continuous listing criteria regarding shareholding mix through clarification of concept and criteria of shareholding mix, a review of evolution in this area and an international comparative study at the context of full listing reform and evolution of regulatory regime since the enactment of new Securities Law.