The United Arab Emirates' market regulator unveiled a major overhaul of stock ownership rules in the Gulf Arab state, in a bid to force more disclosure in takeover deals and boost transparency.
The new regulations by the Securities and Commodities Authority (SCA) requires buyers to inform the stock market if they intend to buy 30 percent or more of a listed company in the UAE. It was not clear when the guidelines would come into effect.
The regulator can reject proposed transactions if it deems them to be against the interests of shareholders or the economy.
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