Regulatory Alerts2016-01-01
Capital Markets (Book Building) Regulations 2016
The Capital Markets Authority of Uganda promulgated these regulations to standardize price discovery and allocation for public securities offerings utilizing book building. The framework requires licensed book runners to manage electronically linked bidding, mandates pre-approved information memoranda detailing pricing bands and syndicate obligations, and enforces transparent daily demand display alongside strict allocation criteria and separate collection accounts. By prohibiting investor incentives and permitting issuers to allocate up to one hundred percent of securities through this mechanism, the rules establish a transparent, efficient process for determining offer prices and securing payment.
Share