On 8 January 2025, PAK SEC issued proposal re listed companies takeover regs. PAK SEC issued consultation paper seeking feedback on improvements to Listed companies (substantial acquisition of voting shares and takeovers) regulations 2017. Aims to strengthen takeover transactions of listed companies' framework by enhancing transparency, introducing measures for safeguarding rights of minority shareholders. Follows…
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China – CSRC Threshold for Equity Changes Re: Shareholding
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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Spain – GVT Takeover Bids in MTS Rules
On 8 January 2025, ESP GVT consulted on draft RD to amend RD 1066/2007. ESP GVT issued draft RD to amend RD 1066/2007 on regime of public offers (OPAs) for acquisition of securities, to extend its application to multilateral trading systems (MTS). Follows ESP GVT March 2023 published Law 6/2023 on securities markets. Overview RD…
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Hong Kong – SFC Updates Takeover Table
On 5 January 2025, the SFC updated its Takeover table to reflect the following: the offer period closed for China Boqi Environmental (Holding) Co., Ltd. (Stock Code: 2377) on 3 January 2025. Visit SFC Takeover Table
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Hong Kong – SFC Takeover Bulletin Published
On 30 December 2024, the SFC published its monthly Takeover Bulletin. Highlights include: New email address for submissions to the Takeovers Team Cold shoulder order against Zuo Ping for breaching the mandatory general offer obligation Rule 22 submissions: Aggregation of same-day, same-price trades and presentation of non-HKD currency-denominated trades Quarterly update on Takeovers Team activities
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