On 6 May 2025, IND SEBI proposed separate carve out for delisting. IND SEBI proposed separate carve out for voluntary delisting of public sector undertakings (PSUs) under SEBI (Delisting of equity shares) regulations, 2021. Applies to PSUs where the promoter group holds 90% or more of the issued shares. Background Under current regulations, delisting is…
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China – SZSE Proposes Capital Market Rules
On 24 May 2024, SZSE finalized listed company self-discipline supervision guidelines no. 18 - shareholders, directors, supervisors, senior managers reducing shareholdings. Plus issued SZSE listed company self-discipline supervision guidelines no. 16 - transfer of shares by shareholders of ChiNext listed companies through inquiry and allocation. Guideline no. 16 clarifies the application scope, participation requirements, procedures,…
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Italy – GVT Public Shareholdings
On 14 February 2023, ITA GVT issued MEF rules on controlled companies boards. ITA GVT announced public shareholdings directive of Minister of Economy and Finance. Re procedures to appoint members of corporate bodies of ministry owned companies. Directive registered with the Court of Auditors on 9 February 2023 with number 128. Overview It amends the…
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Italy – Bank of Italy: Qualified Holding Regime Effective 1 January
On 1 January 2023, the Bank of Italy's Qualified Holding regime takes effect. This applies to shareholdings in Italian Banks, SIM, SGR, SICAV and SICAF, financial intermediaries, payment institutions, and e-money institutions.
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U.K. – GVT Royal Mail Share Acquisition
On 31 October 2022, UK GVT decided no action on the takeover / acquisition by Vesa Equity. UK GVT decided to take no further action under its national security powers on the proposed increase in shareholdings by Vesa Equity Investment in Royal Mail. Proposed acquisition of increased shareholdings in Royal Mail had been called for…
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India – SEBI Related Party Shareholdings
On 25 March 2021, IND SEBI clarified on transfer of shareholding, ownership. IND SEBI clarified circular CIR/MIRSD/14/2011 re transfer of shareholdings among immediate relatives, transmission of shareholdings, and effect on change in control. Control Clarified transmission of shareholding in case of unlisted body corporate intermediary, proprietary firm-type intermediary, as well as partnership firm-type intermediary. Incoming…
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