On 20 April 2026, the SFC updated the Takeover Table with the following: offer period for ETS Group Limited (stock code: 08031) closed on 20 March 2026; offer period for Man Shun Group (Holdings) Limited (stock code: 01746) closed on 2 March 2026; offer period for Thelloy Development Group Limited (stock code: 01546) closed on 10 April…
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France – AMF Insider Trading Decisions Re: Takeover
On 13 April 2026, FR AMF welcomed first criminal decisions in insider trading case. FR AMF welcomed Paris criminal court's conviction of three individuals for insider dealing and complicity, in a landmark case involving insider trading networks. These are the first criminal penalties specifically targeting insider trading networks, which the AMF identifies as a growing…
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Hong Kong – SFC Updates Substantial Shareholding Notices and Takeover Table
On 14 March 2026, the SFC updated substantial shareholding notices and the Takeover Table with the following: Substantial Shareholding in Modern Chinese Medicine Group Co., Ltd. (Stock Code: 01643) and, an offer period has commenced for Somerley Capital Holdings Limited (stock code: 08439) from 13 April 2026.
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U.S. Falls from Top Three in Global Shareholding Disclosure Sanctions
In March, we conducted a review of the 2025 sanctions imposed on entities for failures to comply with Global Shareholding regimes: Major Shareholding, Short Selling, Takeovers, and Sensitive Industries. Read the full article.
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Hong Kong – SFC Issues Takeovers Bulletin No. 76
On 31 March 2026, the SFC released Takeovers Bulletin Issue no. 76 Highlights include: Engagement of suitable professional advisers Settlement agreement in relation to certain dealings in Giordano shares Changes to takeovers related committees Quarterly update on activities of Takeovers Team
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Germany – BaFin Supervisory Notice Re: Interpretations of Takeover Act
On 20 March 2026, GE BaFin issued supervisory notice re C-864/24 EU ruling. GE BaFin issued Supervisory Notice 02/2026 re impact of ECJ ruling of 12 February 2026. Case C-864/24 dealt with interpretation of S34 of Securities Trading Act (WpHG) and S30 of Securities Acquisition and Takeover Act (WpUG). Overview The supervisory notice provides guidance…
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