市场期盼的上市公司再融资规则终于迎来重大修订。11月8日，证监会新闻发言人常德鹏在例行发布会上表示，证监会拟对《上市公司证券发行管理办法》（简称《主板再融资办法》）《创业板上市公司证券发行管理暂行办法》（简称《创业板再融资办法》）及《上市公司非公开发行股票实施细则》（简称《实施细则》）等再融资规则进行修订，并向社会公开征求意见。 值得注意的是，本次修订调整了非公开发行股票的定价和锁定机制，这两项也...
shichangqipandeshangshigongsizairongziguizezhongyuyinglaizhongdaxiuding。11yue8ri，zhengjianhuixinwenfayanrenchangdepengzailixingfabuhuishangbiaoshi，zhengjianhuinidui《shangshigongsizhengquanfaxingguanlibanfa》（jiancheng《zhubanzairongzibanfa》）《chuangyebanshangshigongsizhengquanfaxingguanlizanxingbanfa》（jiancheng《chuangyebanzairongzibanfa》）ji《shangshigongsifeigongkaifaxinggupiaoshishixize》（jiancheng《shishixize》）dengzairongziguizejinxingxiuding，bingxiangshehuigongkaizhengqiuyijian。
zhidezhuyideshi，bencixiudingdiaozhenglefeigongkaifaxinggupiaodedingjiahesuodingjizhi，zheiliangxiangyebeirenweishimuqianzairongzishichangzuihexindezhiyue。xiudinghoudeguizefangkuanlezairongzifaxingjiagedezhekoulv，bingdafusuoduanlechigusuodingqi，qiebushiyongjianchiguizedexiangguanxianzhi。
修改涉及三大方面
创业板再融资最受惠
zhengjianhuizai《qicaoshuoming》zhongbiaoshi，weijinyibutigaozairongzifuwushitijingjifazhandenengli，zhengjianhuinianzhaozhucezhidelinian，duixianxingzairongziguizezhongzhidingshijianjiaozao、bunengshiyingshichangfazhanxuyaodebufenguidingjinxingdiaozheng，qieshijiejueqiyerongzinan、rongziguiwenti，jijizhichishangshigongsichongfenliyongzibenshichangzuoyouzuoqiang，tigaozhijierongzitebieshiguquanrongzibizhong。
zongtilaishuo，cicinixiudingneirongzhuyaobaokuosangefangmian。yishijingjianfaxingtiaojian，tuokuanchuangyebanzairongzifuwufugaimian。baokuo：quxiaochuangyebangongkaifaxingzhengquanzuijinyiqimozichanfuzhailvgaoyu45%detiaojian；quxiaochuangyebanfeigongkaifaxinggupiaolianxu2nianyinglidetiaojian；jiangchuangyebanqiancimujizijinjibenshiyongwanbi，qieshiyongjinduhexiaoguoyupiluqingkuangjibenyizhiyoufaxingtiaojiandiaozhengweixinxipiluyaoqiu。shangshusantiaoshizhuanmenzhenduichuangyebandexiuding。
ershiyouhuafeigongkaizhiduanpai，zhichishangshigongsiyinruzhanlvetouzizhe。shangshigongsidongshihuijueyitiqianquedingquanbufaxingduixiangqieweizhanlvetouzizhedengde，dingjiajizhunrikeyiweiguanyubencifeigongkaifaxinggupiaodedongshihuijueyigonggaori、gudongdahuijueyigonggaorihuozhefaxingqishouri；diaozhengfeigongkaifaxinggupiaodingjiahesuodingjizhi，jiangfaxingjiagebudediyudingjiajizhunriqian20gejiaoyirigongsigupiaojunjiade9zhegaiwei8zhe；jiangsuodingqiyouxianzaide36geyuehe12geyuefenbiesuoduanzhi18geyuehe6geyue，qiebushiyongjianchiguizedexiangguanxianzhi；jiangmuqianzhuban（zhongxiaoban）、chuangyebanfeigongkaifaxinggupiaofaxingduixiangshuliangyoufenbiebuchaoguo10minghe5ming，tongyidiaozhengweibuchaoguo35ming。
sanshishidangyanzhangpiwenyouxiaoqi，fangbianshangshigongsixuanzefaxingchuangkou。jiangzairongzipiwenyouxiaoqicong6geyueyanzhangzhi12geyue。
xuyaoqiangdiaodeshi，dierhedisanbufenshitongguotongshixiugai《zhubanzairongzibanfa》、《chuangyebanzairongzibanfa》ji《shishixize》erduizhuban、zhongxiaobanjichuangyebandengsandabankuaitongshishiyongde。
核心定价及锁定机制调整
bencixiudingdezuidaliangdiandangshudingjiahesuodingjizhi，yijidingjiajizhunridexianzhidiaozheng。
xiugaibande《zhubanzairongzibanfa》he《chuangyebanzairongzibanfa》diaozhenglefeigongkaifaxinggupiaodingjiahesuodingjizhi，jiangfaxingjiagebudediyudingjiajizhunriqian20gejiaoyirigongsigupiaojunjiade9zhegaiwei8zhe；jiangsuodingqiyouxianzaide36geyuehe12geyuefenbiesuoduanzhi18geyuehe6geyue，qiebushiyongjianchiguizedexianzhi。chuangyebanshangshigongsifeigongkaifaxinggupiaodedingjiahesuodingjizhiyuzhuban（zhongxiaoban）shangshigongsibaochiyizhi。
tongshi，《shishixize》di7tiaoyejinxinglexiuding，diaozhenglefeigongkaifaxinggupiaodingjiajizhunrideguiding，jidingjiajizhunriweibencifeigongkaifaxinggupiaodefaxingqishouri，danshangshigongsidongshihuijueyitiqianquedingquanbufaxingduixiangqieweizhanlvetouzizhedengde，dingjiajizhunrikeyiweiguanyubencifeigongkaifaxinggupiaodedongshihuijueyigonggaori、gudongdahuijueyigonggaorihuozhefaxingqishouri。
zhengjianhuizai《qicaoshuoming》zhongbiaoshi，bencixiudingzhizaitigaoshangshigongsirongzixiaolv。diaozhengzairongzishichanghuafaxingdingjiajizhi，chongfenfahuishichangduiziyuanpeizhidejuedingxingzuoyong，xingchengmaimaishuangfangchongfenboyi，shichangjuedingfaxingchengbaideliangxingjumian，tishengzairongzidebianjiexing。
zaiguizeshiyongfangmian，changdepengqiangdiao，xiugaihoudezairongziguizefabushixingshi，zairongzishenqingyijingqudehezhunpifude，shiyongxiugaizhiqiandexiangguanguize；shangweiqudehezhunpifude，shiyongxiugaizhihoudexinguize，shangshigongsilvxingxiangyingdejuecechengxubinggengxinshenqingwenjianhoujixutuijin，qizhongyitongguofashenhuishenhede，buxuzhongxintijiaofashenhuishenyi。（jizhe wangxueqing）
