On 19 May 2023, HK SFC proposed revisions on takeovers, share buy-back.
- 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.
- Covers topics such as shareholder voting and definition of close relatives, the chain principle, efficiency improvements, and clarification of statements during offers.
- Also procedural matters in partial offers, green initiatives, miscellaneous amendments.
- The Takeover consultation is open until 23 June 2023