BEIJING, Feb 24 (Reuters) - The Chinese securities regulator said it will ramp up regulation of rejected "back-door listings", as part of a wider overhaul of initial public offerings by Beijing.
In a brief question and answer published on its website late on Friday, the China Securities Regulatory Commission (CSRC) said companies that have their first listing rejected will have to wait at least three years before they try again.
A back-door listing refers to a reverse takeover, or reverse initial public offering (IPO), which occurs when a privately-held company that may not qualify for the public offering process buys a publicly-traded company.
The short statement also said the regulator will also increase its scrutiny of information disclosure by companies when changes are made to financial reports.
The steps are the latest by the regulator to tighten its grip on the vetting process to ensure the quality of listed companies. Late last year the market watchdog overhauled its examination committee and stepped up scrutiny of applicants' financial strength and disclosures. (Reporting by Josephine Mason; editing by Alexander Smith)