Shareholders should be updated on key milestones in general offer: SGX RegCo

Singapore

IN A general offer, shareholders should be kept updated via SGXNET when the offeror has achieved the 75 per cent acceptance condition, and when the issuer has lost free float, chief executive of the Singapore Exchange Regulation (SGX RegCo) Tan Boon Gin said in his latest regulatory column.

He wrote: "In each case, the announcement should clearly disclose the specific level of independent acceptances and the issuer's free float. The announcement should also inform shareholders of the implications, including the offeror's intentions."