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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…
HKEx Publishes Consultation Conclusions on Combined Consultation Proposals Listing Rule Amendments Take
The Stock Exchange of Hong Kong Limited (the Exchange) has published its Consultation Conclusions on Proposals in the 2008 Combined Consultation Paper (Consultation Conclusions). The Consultation Conclusions…
Listed Companies Disclosure Obligations HKEx Issues Reminder and Guidance
The Hong Kong Stock Exchange (the Exchange) has issued a letter to all issuers listed on the Main Board and Growth Enterprises Market (GEM) reminding them of their obligation to make timely public disclosure of…
No Change to General Offer Trigger Point and Creeper under Takeovers Code Guidelines for the Exemption of Listed Corporations from Part Xv of the SFO Amended to Facilitate Exchange-Traded Funds
The Takeovers Panel met recently to consider suggestions received by the Securities and Futures Commission (SFC) that, in light of current market conditions, the 30% general offer trigger point and the 2% creeper…
New Growth Enterprise Market Rules Come into Effect
Hong Kong Exchanges and Clearing Limited (HKEx) published its Consultation Conclusions on the Growth Enterprise Market (GEM) on 2 May 2008 which set out the amendments to the GEM Listing Rules which will be…