As of 1 June 2009, foreign ownership limits in public companies will be capped at 49%. The Prime Minister of Vietnam has signed Decision 55/2009/QD-TTg (“Decision 55”), dated 15 April 2009, on Foreign Ownership…
Archived Post for "Hong Kong Law"
The Turner Review and Discussion Paper – a Regulatory Response to the Global Banking Crisis
On 18 March 2009, the Financial Services Authority (FSA) published a Review of the global banking crisis, conducted by Lord Turner, Chairman of the FSA (the “Review”) along with the FSA’s Discussion Paper 09/2…
Chinas Ministry of Commerce Rejects Coca-Colas Bid to Acquire China Huiyuan Juice Group
China’s Ministry of Commerce (“MOFCOM”) announced on 18 March 2009 that it has rejected Coca-Cola Company’s (“Coca-Cola”) US$2.4 billion (HK$19.65 billion) bid to acquire China Huiyuan Juice Group Limited (“Huiyuan”)…
SFC Approves Listing Rule Amendments to Extend Black Out Period for Annual Results to 60 Days
The SFC has approved amendments to the Main Board and GEM Listing Rules to extend the black out period for directors’ dealings prior to the publication of issuers’ annual results from one month to 60 days…
HKEx Proposes Modification of the Black Out Period Extension and Moderates Position on Quarterly Reporting
The Stock Exchange of Hong Kong Limited (the Exchange) published a press release on 12 February 2009 setting out the revised proposals of its Listing Committee regarding the controversial extension of the black…
Changes to Designated Securities Eligible for Short Selling
The Stock Exchange of Hong Kong Limited (the Exchange) has announced that with effect from 12 February 2009 (Thursday), 25 additional securities will be eligible for short selling and 27 existing designated…
HKEx Proposes Mandatory Quarterly Reporting by Main Board Listed Companies from 2011 Year-End and Other HKEx Initiatives
The latest Status Report on New Product and Market Development Initiatives (Status Report) and the latest quarterly newsletter (Newsletter) published by the Hong Kong Stock Exchange (HKEx) on 19 January 2009…
SFC Emphasises Trigger and Creeper Provisions Will Not be Relaxed and Introduces New Takeovers Code Practice Note on Confirmation of Financial Resources
The Securities and Futures Commission has published its December 2008 Takeovers Bulletin which: reiterates the Takeovers Panel’s October 2008 recommendation not to relax the trigger and creeper provisions in…
Implementation of the Extension of the Black Out Period Prohibiting Directors from Dealing in Securities of Listed Issuers Deferred
The Stock Exchange of Hong Kong Limited (the “Exchange”) issued a press release on 30 December 2008 in relation to the deferred implementation of the extension of the “black out” period prohibiting directors from…
Consultation Conclusions on Proposed Companies Ordinance Amendments in Relation to Company Names Directors Duties Corporate Directorships and Registration of Charges Published
On 10 December 2008, the Financial Services and the Treasury Bureau (FSTB) published its second consultation conclusions on the rewrite of the Companies Ordinance (CO) covering company names, directors’ duties…