(Bloomberg) – The Shanghai Stock Exchange will provide online services during IPO approval meetings, consultations and roadshows as half the city faces a lockdown in turns to stem a spiraling epidemic in the Chinese financial hub.
The exchange will extend the time window for the release of listed company statements to 11 p.m., according to a statement from the exchange, and companies can apply to postpone the release of annual results to April 30.
The city of 25 million people will first lock down areas east of the Huangpu River, which includes its financial district and industrial parks, for four days starting Monday. Then the lockdown will move west of the city for another four days, according to a statement issued by the local government on Sunday.
The exchange will also offer a “green channel” for bond releases by companies severely affected by the pandemic and plans to use the proceeds for Covid checks or repayment of bonds due.
“The market impact on the Shanghai lockdown is not expected to be significant as the duration seen in recent lockdowns appears to be getting shorter (from months to weeks), for example the Shenzhen lockdown this month lasted about a week before to resume normal business operations,” Kelvin Wong, an analyst at CMC Markets (Singapore) Pte., said via email.
Read: Shanghai to take turns locking down half the city for mass Covid testing
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