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…
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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,…
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Pakistan – SEC Representation of Unitholders RE: Shareholding
On 6 January 2025, PAK SEC directed re safeguarding unitholder proxy rights. PAK SEC released direction (of Jan. 1) on Requirements related to conduct of asset management companies (AMCs) representing unitholders of collective investment schemes (CIS) in listed companies' general meetings, about safeguarding proxy rights. General Meeting Requirements AMCs are encouraged to attend all general…
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Argentina – CNV Privatization, Takeover Bids
On 13 December 2024, ARG CNV modified privatization policy standards. ARG CNV issued General Resolution 1037/2024 to modify standards (NT 2013, mod.). The Resolution modified rules on takeover bids that do not involve changes in control. Highlights Resolution 1037 clarified provisions applicable to Public Acquisition Offers (OPA) within the framework of the privatization policy promoted…
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Argentina – CNV Publishes Substantial Shareholding Reporting Standards
On 13 December 2024, ARG CNV published substantial shareholdings reporting standards. ARG CNV issued General Resolution 1036/2024 to modify standards (NT 2013, mod.). Modified special reporting regime for substantial shareholding in issuers that qualify as markets under public offering rules, to align with Resolution 1035 amendments. Highlights Requires market shareholders to report to ARG CNV…
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Argentina – CNV Substantial Shareholding Reporting
On 5 December 2024, ARG CNV has made the obligation to report more flexible. ARG CNV issued General Resolution 1035/2024 re flexibility of substantial shareholdings report. Highlights Criteria and deadlines will be modified to ensure data transparency and improvement. From 5% threshold, substantial shareholding must be reported when reach multiples of value. 10 business days…
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