ASIA REGULATORY ROUND UP – HONG KONG REGULATORS CRACK DOWN ON MINORITY SHAREHOLDER ABUSERS
January 1st, 2017
HONG Kong’s Securities and Futures Commission (SFC) and the Hong Kong Stock Exchange have put listed companies on notice that they will closely monitor rights issues and open offers that substantially dilute the interests of non-subscribing minority shareholders.
In a joint statement, the SFC and the exchange have said they fear in some cases deals have been conducted without complying with requirements to give fair and equal treatment to all shareholders. Both bodies are reviewing relevant listing rules. And the exchange says it is rigorously vetting ...
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