On 15 November 2024, CHI CSRC took over Hehe Futures for governance fails. CHI CSRC took over Hehe Futures Co Ltd from 15 November 2024 to 14 November 2025, due to severe governance issues and loss of management control that pose significant risks. A takeover team has been formed to operate Hehe Futures during the […]
On 15 November 2024, the Securities and Futures Commission (SFC) publicly censured Ms Zuo Ping for breaching the mandatory general offer obligation under the Takeovers Code. Background Publicly censured and imposed a six-year cold shoulder order against Ms Zuo Ping Zuo made a number of acquisitions and disposals of shares in CBK Holdings Limited (CBK) […]
On 12 November 2024, DEN GVT promulgated Competition Act, LBK 1150 of 3 November 2024. With amendments from Act 2601 of 28 December 2021 and Act 638 of 11 June 2024. Act does not apply to mergers where a merger agreement has been concluded, a takeover offer has been published or a controlling share has […]
Hong Kong Fines for Takeover Breaches
On 12 November 2024, the SFC updated its Takeover table to reflect the following: takeover offer period closed for Shi Shi Services Limited (Stock Code: 8181) on 11 November 2024. Visit SFC Takeover Table
On 6 November 2024, UK Takeover Panel following consultation issued response statement RS 2024/1, the individual responses received from the respondents to PCP 2024/1 and Instrument 2024/3, which makes the amendments to the Takeover Code set out in RS 2024/1. Amendments to the Takeover Code made by Instrument 2024/3 will take effect 3 February 2025. […]