Regulatory Alerts2016-11-15 | DOF 5460970Added
Resolution modifying the General Provisions applicable to securities issuers and other participants in the securities market
The CNBV amends the General Provisions to allow securities issuers to cancel a listing on one exchange and list on another by requiring prior board approval, simultaneous submission of cancellation and listing requests at least ten business days in advance, and publication of relevant events. The resolution lowers the public float requirement for large issuers to at least 15% of share capital or a reference in investment units, reduces the minimum number of shareholders to 100, and raises the qualified investor threshold for restricted public offerings to 20 million investment units. It also mandates that issuers with a placement amount of at least 950 million investment units representing less than 12% of capital must establish a repurchase fund and hire a market maker.
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