On 21 September 2023, HK SFC published consultation conclusions, adopted all proposals.

• Changes include revising the definitions of important terms, streamlining takeover processes to enhance efficiency and introducing green initiatives to reduce the carbon footprint.
• Amended codes will be gazetted on 29 September 2023 and then take effect immediately.

Background:

• HK SFC proposed amendments to the Codes on takeovers and mergers and share buy-backs; aims to codify existing practices of Takeovers executive, clarify re the codes.