Regulatory Alerts2014-03-26
Added · Updated
Communiqué on Shares (VII-128.1)
The Capital Markets Board issued Communiqué VII-128.1 to establish procedures and principles for the issuance of shares and share-like securities under Capital Markets Law no. 6362. The regulation mandates Board approval for various corporate transactions, including public offerings, capital increases, and privatizations, while defining key terms such as public corporations and authorized institutions. It further imposes specific conditions for initial public offerings, including capital payment requirements, related-party receivable limits, and underwriting obligations for unsold shares.
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