Regulatory Alerts2006-05-24
Instructions of Dealing with Subscription Rights for 2006
Issued by the regulatory Commission under Securities Law No. 76 of 2002, these instructions establish the regulatory framework for trading and exercising subscription rights linked to capital increases in listed companies. The rules classify subscription rights as independent tradable securities, mandating their registration with the Central Securities Depository and specifying a five-day trading window followed by a subscription period. Companies must sell unsubscribed shares within two months at or above the issuance price, with any remaining shares optionally covered by the board of directors to protect shareholder interests.
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