On 7 March 2024, BRZ Anbima commented on CVM public takeover proposal. BRZ Anbima reported on comments it made in response to BRZ CVM consultation. Follows December 2023 BRZ CVM proposal on public takeover offers (OPA) Recommended Modifications BRZ Anbima recommended inclusion of criteria to review the valuation report. Report defines the price that will…
Read more
13 March 2024 – India SEBI Fines for Violation of Takeover Rule
India SEBI Fines for Violation of Takeover Rule
Read more
Denmark – Gvt Published Updated Capital Markets Act (Takeover)
On 1 March 2024, DEN GVT published updated version of capital markets act. DEN GVT published an updated version of the Capital Markets Act, building on previous legislation that applies to all of the actors and their behavior on the capital markets. Changes are in LBK 198/2024 of 26 February 2024, building on LBK 42…
Read more
Pakistan – SEC Amendments to Takeovers
On 2 February 2024, PAK SEC introduced amendments in Listed companies (substantial acquisition of voting shares and takeovers) regulations, 2017, after consultation. Securities offered as payment to minority shareholders must be as good as cash. Based on this principle, the amended regulations allow the acquirer to offer securities as an alternate to cash but leave…
Read more
Finland – GVT Takeover Bid Rules and Multilateral-Trading Facilities
On 15 February 2024, FIN PRL issued HE 3/2024 on FIN GVT proposal to amend Securities Markets Act into law affecting provisions on major shareholdings and voting rights. Also affects major shareholdings and voting rights, takeover bids, and obligation to bid, so that they would apply to multilateral trading facilities, not just regulated markets. By…
Read more
India – SEBI Consultation on Foreign Portfolio Investors Disclosures
On 7 February 2024, IND SEBI proposed relaxation on timelines for disclosure. IND SEBI released Consultation paper on relaxation in timelines for disclosure of material changes by foreign portfolio investors, re two categories of material changes. Follows IND SEBI August 2023 circular on additional disclosures by FPIs. Categorization of Material Changes IND SEBI proposed to…
Read more