On 3 February 2023, IND SEBI issued additional means to achieve shareholding. IND SEBI reviewed existing methods and introduced two additional methods to facilitate listed entities to achieve minimum public shareholding (MPS) requirements. Follows IND SEBI February 2018 issued minimum public shareholdings rules. Follows IND SEBI January 2023, modified provisions of existing framework. Methods Listed…
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Norway – DNO Issues Substantial Shareholding Disclosure
On 2 February 2023, DNO ASA, the Norwegian oil and gas operator, issued a substantial shareholding disclosure. DNO ASA passed the 5% threshold for disclosure of major shareholdings in its own shares. this is part of the Company’s ongoing share buyback program According to the major shareholding disclosure, the Company holds a total of 52,719,531…
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Rulefinder Alerts to New Temporary Short Selling Bans
On 2 February 2023, Rulefinder alerted subscribers to new temporary short selling bans in 2 countries. These short selling bans will be effective on 6 February 2023.
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Estonia – Foreign Direct Investment Screening
On 25 January 2023, Estonia introduced a foreign investment screening regime which will enter into force on 1 September 2023. Background: regulates the conditions and procedure for assessing the reliability of non-EU foreign investors (including those with a holding of 10% or more). range of target companies includes providers of critical services, state-owned enterprises, manufacturers…
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Lebanon – CB revised Rules on Credit, Shareholding Investment
On 20 January 2023, LEB CB revised rules on credit, shareholding, investment. LEB CB issued Decision No. 13525 (circular 656) to amend Decision No. 7776 of 2001 relating to credit, investment, shareholding, and participation operations. Document dated 20 January 2023 was received from LEB CB on 24 January 2023. Amendments Removed Paragraph 5 of Section…
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India – NSE Transition to T+1 Settlement
On 27 January 2023, IND NSE, BSE completed transition to T+1 settlement. IND NSE, BSE announced the transition to T+1 settlement cycle in equity markets. Follows IND SEBI September 2021 introducing a T+1 rolling settlement cycle. Settlement Stock exchanges, clearing corporations and depositories jointly finalized the roadmap for the implementation of T+1 settlement cycle in…
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