On 9 February 2023, IND SEBI clarified re time frame for amending articles. IND SEBI issued a circular to clarify on the compliance by the first-time issuers of debt securities under SEBI issue and listing of non-convertible securities, regulations 2021. Clarification Some first-time issuers in the process of preparing for their first listed privately placed…
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India – Overseas Short Selling Cause of Adani Collapse
A government probe into the collapse of Adani market capital revealed overseas short selling in shares of Adani is responsible for the $100B rout.
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Rulefinder Alerts to Temporary Short Selling Bans
On 9 February, Rulefinder alerted to new temporary short selling bans in S Korea. These new short selling bans are effective 10 February 2023.
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U.S. – CBOE BYX Position Change Priority
On 6 February 2023, Cboe BYX proposed to amend priority for position changes. Cboe BYX, EDGA, BZX, EDGX proposed to amend time priority for position changes. Provisions specified that certain changes in position will result in a loss of time priority. Proposal is substantially similar to MIAX timestamp short sell amendments. Rule Provisions Orders may…
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India – SEBI Minimum Public Shareholding
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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