On October 9, the Bank of Beijing confirmed in an announcement that it already had 84 juvenile shareholders before issuing initial public offerings (IPO) this year.
But the bank noted that there is no need to deal with the shares held by these young people because there are no laws or regulations that prohibit juveniles from holding shares.
Professor Liu Jipeng, a capital market expert from the China University of Political Science and Law, said that it is not normal for a listed company to have so many juvenile shareholders. This kind of situation is not only very risky to these young shareholders but also for the bank, Liu warned.
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(China.org.cn October 10, 2007)