Australia to ease rules on raising capital amid coronavirus outbreak

[BENGALURU] Australia's corporate regulator will temporarily relax some rules to make it easier for listed companies to raise capital because of the coronavirus pandemic, it said on Tuesday.

The Australian Securities and Investments Commission (ASIC) said it would allow companies to issue certain "low-doc" offers, such as rights offers, placements and share purchase plans, even if they fall short of usual requirements.

A "low-doc" capital raising regime that exempts a firm from issuing a prospectus for a capital-raising is normally not available to a company suspended for more than five days in the prior 12 months.

REUTERS