(2) changes in equity open rules. The so-called disclosure rules of shareholding changes refer to that after an investor holds 5% of the issued shares of a listed company through securities trading in a stock exchange, he shall make a written report to the the State Council securities regulatory authority and the stock exchange within 3 days from the date when the proportion of the issued shares of the listed company increases or decreases by 5%, and notify the listed company and make an announcement.
(3) Mandatory offer rules. The so-called compulsory offer rule refers to that when an investor holds or shares 30% of the issued shares of a listed company through securities trading on the stock exchange, he sends an offer to all shareholders of the listed company to buy all or part of the shares of the listed company according to law. An offer to purchase part of the shares of a listed company shall stipulate that if the number of shares promised to be sold by the shareholders of the acquired company exceeds the number of shares scheduled to be purchased, the purchaser shall make the acquisition in proportion.
(4) Transfer restriction rules. The so-called transfer restriction rule refers to the fact that in the acquisition of a listed company, the shares of the acquired listed company held by the purchaser shall not be transferred within 12 months after the acquisition is completed. The general rules should start with the supervision of the purchasers of listed companies.