On 3 July 2025, ESP CNMC in favor of extending takeover bid regime. ESP CNMC in favor of extending takeover bid regime to multilateral trading systems. Follows draft Royal Decree on regime of public offers for acquisition of securities which will extend its application to multilateral trading systems (IPN/CNMC/008/25). Multilateral Trading Systems Multilateral trading systems…
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About: Anna Monteiro
Recent Posts by Anna Monteiro
Hong Kong – SFC Updates Substantial Shareholding Table
On 11 July 2025, the SFC updated its Substantial Shareholdings table to include the following: substantial shareholding in China Star Entertainment Limited (Stock Code: 00326)
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Japan – FSA Publish Amendments to Major Shareholding and Takeover Rules
On 4 July 2025, JPN FSA issued 350 public comments received and its responses wrt its major shareholding and takeover regimes. The FSA has published notice of the amendments to the major shareholdings and takeovers rules following a period of consultation. Re the tender offer (takeover) system, JPN FSA made further revisions to exclude share…
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U.K. – Takeover Panel Issues Consultation o Share Structures
On 3 July 2025, UK Takeover Panel consulted on share structures, IPOs, buybacks. UK Takeover Panel published public consultation paper (PCP 2025/9) on dual class share structures, initial public offerings (IPOs) and share buybacks. These proposed changes follow the FCA's changes to the Listing Rules in 2024. Summary of Proposed Changes on DCSS Takeover Code…
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Germany – BaFin Updates FAQs on Short Selling
On 3 July 2025, GE BaFin updated its informative file on the short selling framework. Details on the prohibition of naked short selling, transparency obligations for net short positions; e-notification procedure; exceptions for market makers, primary dealers.
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Turkey – CMB Bulletin on Continuation of Short Selling Ban
On 27 June 2025, TUR CMB issued bulletin 2025/36 setting out board decision on continuation of short selling ban until the end of the session on 29 August 2025.
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