Regulatory Alerts2013-12-14
Added · Updated
Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2008
These Regulations establish detailed procedures for substantial acquisitions of voting shares and takeovers of listed companies in Pakistan, including mandatory disclosure timelines, public announcement requirements, and offer pricing mechanisms. They mandate that acquirers make public announcements of intention within specific timeframes and set minimum offer prices based on historical trading data or net asset values. The rules further define the acceptance period, book closure procedures, payment modes, and security deposit requirements, imposing fines of up to thirty million rupees for false disclosures or deceptive announcements.
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