Philippines Substantial Shareholding
October 2024 Philippines Substantial Shareholding Information The PSE is consulting on proposed rules which will be issued to govern the listing, trading, and clearing and settlement of Global Philippine Depositary Receipts (“GPDRs”). The rules note the PSE intends to launch GPDRs, which are instruments where the holder has an economic interest in an underlying security […]
Bulgaria Substantial Shareholding
September 2024 Bulgaria Substantial Shareholding Update The Financial Supervision Commission (FSC) has issued new disclosure forms to notify holdings which exceed the thresholds of 5% or multiples of 5% of the voting rights in relevant issuers. The text of the previous disclosure form remains unchanged, However the form is now split into two separate documents […]
Saudi Arabia Sensitive Industries
September 2024 Saudi Arabia Sensitive Industries Update As part of attempts to attract investment, the Ministry of Investment of Saudi Arabia (“MISA”) has published a new ‘Investment Law’ (Royal Decree No. M19/1446) to replace the existing ‘Foreign Investment Law’ (Royal Decree No. M1/1421). Among other things, the Investment Law: Intends to apply to both domestic […]
China Substantial Shareholding
August 2024 China Substantial Shareholding Update The Interim Measures for the Management of Divestment of Shares by Shareholders of Listed Companies (the New Measures) issued by the China Securities and Regulatory Commission (the CSRC) on 24 May 2024, which took effect on the same date and replaced the Provisions on Divestment of Shares by Shareholders, […]
SHORT SELLING: TAIWAN UPDATE
3 October 2022 SHORT SELLING: TAIWAN UPDATE Short Selling Rules Tightened Effective 1 October, 2022, The Financial Supervisory Commission (FSC) of Taiwan has implemented measures tightening short selling activity. The securities lending ratio ceiling relating to average trading volume has been lowered from 30% to 20%. The FSC has also increased the margin ratio for […]
SENSITIVE INDUSTRIES: AUSTRALIA UPDATE
17 September 2022 SENSITIVE INDUSTRIES: AUSTRALIA UPDATE Low Threshold Calculations There are recent changes to low threshold calculations for Sensitive Industries, regulated under Foreign Acquisitions and Takeovers Act 1975, for Australian Media Businesses. Artius Global Thoughts Note the change in shareholding disclosure threshold. This information is provided by Artius Global. Disclaimer FRANCE AMF UPDATE 18 […]
SINGAPORE MAS UPDATE
12 August 2022 SHAREHOLDING DISCLOSURE: SINGAPORE MAS UPDATE Updated FAQs The MAS has published updated FAQs on disclosure of interests. Updates pertain to instruction on electronic notification forms) and changes to MAS opening hours, telephone number, and a new MAS email address. Artius Global Thoughts In this update, there is no changes to the rules, […]
FRANCE AMF UPDATE
18 June 2022 SHAREHOLDING DISCLOSURE: FRANCE AMF UPDATE Change of Threshold for French Issuers on Euronext Growth On 20 May 2022, a French order went into effect that replaced the shareholding disclosure of crossing 95% threshold in a French issuer trading on Euronext Growth to 90% threshold (in share capital or/ and voting rights). Artius Global […]
SPAIN CNMV UPDATE
15 June 2022 SHAREHOLDING DISCLOSURE: SPAIN CNMV UPDATE New Substantial Shareholding Form and the Inclusion of Loyalty Shares CNMV’s Circular 2/2022 on 8 June provides an updated substantial shareholder notification form that takes into account loyalty shares that grant double voting rights. The new shareholding disclosure form will be available on the CNMV […]