Category

Equity Capital Markets

Category

The Australian Securities Exchange (ASX) has amended its Listing Rules to implement changes to its admission requirements which took effect from 19 December 2016. Key changes are: increasing the requirement for profit test entities to have consolidated profits for the 12 months prior to admission from A$400,000 to A$500,000 amending the requirements to satisfy the assets test by increasing: the net tangible assets (NTA) requirement from A$3 million to A$4 million; or the market capitalisation…

Continuous policy reforms and the general upbeat sentiment on the economy are driving up business activity in India. According to Baker & McKenzie’s newly released India IPO Report, the estimated total value of IPOs in the country is set to hit USD5.8 billion by the end of 2016, more than double the total value for 2015. A key development sustaining the India IPO market momentum is the passing of the new Goods & Services Tax…

The Singapore Exchange Securities Trading Limited (“SGX”) may soon allow the listing of companies with different classes of shares, in a bid to attract more initial public offerings (“IPOs”) to Singapore. A dual-class share structure gives certain shareholders voting power or other related rights disproportionate to their shareholdings. Such a structure allows certain holders of shares multiple votes, and grants such holders greater voting rights without the corresponding financial investment risk. Read our client alert…

Introduction

On 10 August 2016 the Saudi Arabian Capital Market Authority (CMA) announced the publication of the much anticipated revisions to the Rules for Qualified Foreign Financial Institutions Investment in Listed Shares (the QFI Rules).

The revised QFI Rules, which will become effective on 4 September this year, further relax the criteria for registration of foreign institutions and the various investment restrictions they were subject to under the first iteration of the rules.