Does the withdrawal of state-owned shares require listing?

Legal analysis: the withdrawal of state-owned equity capital reduction does not need to be listed, but it needs the following steps:

1. Formulate a transfer plan and report it to the competent department of state-owned property rights for approval.

2. The transferor shall organize assets verification and prepare the balance sheet and asset transfer list.

3. Entrust an accounting firm to conduct audit, and entrust an asset appraisal institution to conduct asset appraisal.

4. Convene a shareholders' meeting to conduct internal deliberation on the equity transfer, and form a resolution agreeing to the equity transfer and the commitment of other shareholders to give up the preemptive right.

5. Apply for listing, select qualified property rights trading institutions and apply for listing.

6. The transferor and the transferee sign the equity transfer contract and obtain the property right transaction certificate issued by the property right transaction institution.

7. The transferor shall submit the relevant written materials of equity transfer to the competent department of state-owned property rights for record and registration.

8. The transferor and transferee of property right registration shall go through the formalities of property right registration with the property right transaction certificate and corresponding materials issued by the property right transaction institution.

9. After the transaction is completed, the Articles of Association and the register of shareholders shall be revised, and the change registration shall be handled.

Legal basis: Interim Measures for the Administration of State-owned Equity of Limited by Share Ltd.

Article 29 State-owned shares may be transferred according to law.

The national equity transfer shall meet the following requirements:

First, the transfer of state-owned shares should take the adjustment of investment structure as the main purpose.

Second, the transfer of state-owned shares must comply with the relevant provisions of the state on the transfer of state-owned shares, and the state-owned share holder shall apply, stating the transfer purpose, the investment of transfer income, the transfer amount, the transfer object, the transfer method and conditions, the transfer pricing, the transfer time and other specific arrangements.

Three, the national equity transfer application shall be submitted to the State Administration of State-owned Assets and the provincial people's government state-owned assets management department for approval; Overseas transfer of state-owned shares (including rights transfer) must be reported to the State Administration of State-owned Assets for approval; The transfer of state-owned shares is relatively large, involving changes in absolute and relative controlling rights, and must be approved by the State Administration of State-owned Assets in conjunction with the State Commission for Economic Restructuring and relevant departments.

Four, non-state-owned assets management department shares of shareholder units after the transfer of state equity, should report to the state-owned assets management department transfer income, transfer income use plan and implementation results.

Specific measures for the transfer of state-owned shares shall be formulated separately.