On 8 January 2025, PAK SEC issued proposal re listed companies takeover regs. PAK SEC issued consultation paper seeking feedback on improvements to Listed companies (substantial acquisition of voting shares and takeovers) regulations 2017. Aims to strengthen takeover transactions of listed companies' framework by enhancing transparency, introducing measures for safeguarding rights of minority shareholders. Follows…
Read more
China – CSRC Threshold for Equity Changes Re: Shareholding
On 10 January 2025, CHI CSRC issued interpretation for acquisition / takeover measures. CHI CSRC issued Interpretation no. 19 to clarify, standardize the application of articles 13 and 14 of the Measures for the administration on acquisition / takeover of listed companies. Interpretation Details Thresholds of 5%, 1% in articles 13, 14 apply only to…
Read more
Canada – CIRO Consultation RE: Short Selling Regulations
On 9 January 2025, CIRO proposed amendments on mandatory close-outs. CIRO proposed rule amendments respecting mandatory close-out requirements. CSA OSC and CSA Que also published proposed amendments in respective Bulletins. Redline and clean versions of proposed amendments in Appendix 1 and Appendix 2. Follows related CIRO request for feedback on short selling framework. Proposed Amendments…
Read more
Hong Kong – Substantial Shareholding Notification Published
On 15 January 2025, the SFC published a substantial shareholding notification for GL-Carlink Technology Holding Limited (Stock Code: 02531). Substantial shareholding disclosure announcement
Read more
India – SEBI Proposes to Increase Criteria for Shareholding Disclosure
On 10 January 2025, IND SEBI proposed to increase size criteria on disclosure. IND SEBI proposed to increase size criteria under additional disclosure framework. Follows IND SEBI August 203 issued circular on additional disclosures by FPIs. Proposal Threshold for equity assets under management (AUM) requiring additional disclosures proposed to be upped to INR 50k crores,…
Read more
Spain – GVT Takeover Bids in MTS Rules
On 8 January 2025, ESP GVT consulted on draft RD to amend RD 1066/2007. ESP GVT issued draft RD to amend RD 1066/2007 on regime of public offers (OPAs) for acquisition of securities, to extend its application to multilateral trading systems (MTS). Follows ESP GVT March 2023 published Law 6/2023 on securities markets. Overview RD…
Read more