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 […]
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 […]
On 8 January 2024, DEN FSA published consultation on takeover bids notice. DEN FSA submitted a draft executive order on takeover bids for consultation. Document dated 8 January 2024, received from on 6 February 2024 due to a fixed feed. Amendments Order continues rules from executive order 636 on takeover offers, which are repealed. Changes […]
On 19 January 2024, SWI COMCO prohibited the takeover by Swiss Post. SWI COMCO prohibited the takeover of Quickmail by Swiss Post to avoid monopoly. Main Points The Quickmail Group, with its two subsidiaries Quickmail and Quickpac, distributes letters, unaddressed mail, newspapers, magazines, parcels throughout Switzerland. Swiss Post is a competitor; for SWI COMCO, the […]
On 12 January 2024, CRO HANFA issued notice for shareholders of PIK from Rijeka. CRO HANFA informed the public that PIK-ESOP d.o.o. has submitted a new request for approval to publish a bid for the takeover of PIK dd since the first one was rejected. The price per share in the first takeover offer was […]
On 5 January 2024, CHI CSRC proposed interpretation of articles of measures. CHI CSRC drafted proposal for public feedback re interpretation, application of articles 13 and 14 of Measures for the administration of the takeover of listed companies. Interpretation Related to major shareholding disclosure requirements for investors and their concerted actors when their major shareholding […]