Can ordinary companies sell their shares?

Generally speaking, a company can sell its equity, but it must be approved by the the State Council Securities Regulatory Authority, and the public offering of new shares should be decided by its shareholders' meeting. After issuing new shares to raise enough funds, the company shall apply to the company registration authority for registration of change and make an announcement.

legal ground

Article 133 of the Company Law of People's Republic of China (PRC) When a company issues new shares, the shareholders' meeting shall make resolutions on the following matters: (1) The types and amount of new shares; (2) the issue price of new shares; (3) the starting and ending dates of the issuance of new shares. (4) The type and amount of new shares to be issued to the original shareholders. Article 134 When a company issues new shares publicly with the approval of the the State Council securities regulatory authority, it must announce the prospectus and financial accounting report of the new shares, and make a subscription. The provisions of Articles 87 and 88 of this Law shall apply to the company's public offering of new shares. Article 135 When a company issues new shares, it may determine the issue price according to the company's operating and financial conditions. Article 136 After issuing new shares and fully raising shares, a company must register the change with the company registration authority and make a public announcement.