SFC consults on revisions to takeovers and share buy-back rules
The Securities and Futures Commission (SFC) launched a consultation on proposed amendments (Note 1) to the Codes on Takeovers and Mergers and Share Buy-backs (Codes).
The proposed amendments include codification of existing practices of the Takeovers Executive (Note 2), clarifications on the Codes and other matters.
The consultation paper also introduces a number of initiatives to reduce the environmental impact associated with the documents published under the Codes.
Interested parties are invited to submit their comments to the SFC by 23 June 2023 via the SFC website (www.sfc.hk) or by email to takeoverscode_review@sfc.hk.
Notes:
1. The proposals followed a review conducted by the Takeovers Executive in consultation with the Panel on Takeovers and Mergers.
2. This refers to the Executive Director of the SFC's Corporate Finance Division or any delegate of the Executive Director.
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