The market regulator yesterday unveiled a major reform of share ownership rules that require greater disclosure by investors building big stakes in listed companies.
The new rules require investors to inform the market immediately if they intend to acquire a shareholding in a listed company of 30 per cent or greater.
The market and regulator have the right to reject the transaction if they believe it would be contrary to the interests of the national economy, the ruling said. The regulations also require all investors to disclose so-called direct and indirect holdings in publicly listed companies.
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