Issue-related advertising rules restrict subscription claims and require lead manager verification before announcing issue closure. Issue-related advertisements for opening and closing must follow prescribed formats and publication venues. Advertisements during the subscription period ... Summary
Issue-related advertising rules restrict subscription claims and require lead manager verification before announcing issue closure.
Issue-related advertisements for opening and closing must follow prescribed formats and publication venues. Advertisements during the subscription period must not imply full subscription or indicate investor response. A closure announcement is allowed only after the lead manager is satisfied that at least ninety per cent of the issue is subscribed and a registrar certificate confirms that fact; such an announcement cannot precede the scheduled closing date except in the prescribed closing-advertisement format.
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