According to the provisions of Article 95 of the Securities Law, in case of acquisition by agreement, both parties to the agreement may temporarily entrust a securities registration and settlement institution to keep the shares transferred by agreement and deposit the funds in a designated bank.
In case of acquisition by agreement, if the purchaser acquires or obtains 30% of the issued shares of a listed company with others through agreement or other arrangements, and continues the acquisition, it shall issue an offer to all shareholders of the listed company to acquire all or part of the shares of the listed company. However, the offer can be exempted by the the State Council Securities Regulatory Authority.
Extended data:
Relevant requirements for enterprise acquisition:
1. An investment institution authorized by the state to acquire shares of a listed company shall be approved by the relevant competent department in accordance with the provisions of the State Council. The securities regulatory authority in the State Council shall formulate specific measures for the acquisition of listed companies in accordance with the principles of this Law.
2. If, through securities trading in the stock exchange, an investor holds or holds shares with others by agreement or other arrangements to reach 5% of a listed company, it shall, within 3 days from the date of this fact, make a written report to the the State Council securities regulatory body and the stock exchange, notify the listed company and make an announcement.
3. After an investor holds or shares 5% of the issued shares of a listed company with others through agreement or other arrangements, it shall make a declaration and announcement in accordance with the provisions of the preceding paragraph for each increase or decrease in the proportion of the issued shares of the listed company.
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