Red herring prospectus enables preliminary securities offers but requires subsequent full prospectus filing and disclosure. A company may issue a red herring prospectus - a prospectus omitting complete particulars of quantum or price - and must file it with the Registrar before opening the subscription list. The red herring prospectus is subject to the same obligations as a prospectus, with any variations to be highlighted in the final prospectus. After closing the offer the company must file a definitive prospectus stating total capital raised, closing price and other details omitted earlier, and file it with the Registrar and the securities regulator.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Red herring prospectus enables preliminary securities offers but requires subsequent full prospectus filing and disclosure.
A company may issue a red herring prospectus - a prospectus omitting complete particulars of quantum or price - and must file it with the Registrar before opening the subscription list. The red herring prospectus is subject to the same obligations as a prospectus, with any variations to be highlighted in the final prospectus. After closing the offer the company must file a definitive prospectus stating total capital raised, closing price and other details omitted earlier, and file it with the Registrar and the securities regulator.
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