Price band limits ensure issuer sets final offer price within prescribed cap and floor before filing prospectus. Regulation 29 permits an issuer to state a price or price band and requires the final price to be fixed before filing the prospectus; the filed prospectus must show a single price or coupon rate. The floor/final price cannot be less than face value. Price band caps and coupon rates for convertible debt are subject to prescribed upper and minimum relationships to the floor price. Issuers must announce the floor price or band at least two working days before opening the issue, include financial ratios for both band ends and a direction to the basis of issue price, and publish these on stock exchange websites with pre-filled application forms.
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.
Price band limits ensure issuer sets final offer price within prescribed cap and floor before filing prospectus.
Regulation 29 permits an issuer to state a price or price band and requires the final price to be fixed before filing the prospectus; the filed prospectus must show a single price or coupon rate. The floor/final price cannot be less than face value. Price band caps and coupon rates for convertible debt are subject to prescribed upper and minimum relationships to the floor price. Issuers must announce the floor price or band at least two working days before opening the issue, include financial ratios for both band ends and a direction to the basis of issue price, and publish these on stock exchange websites with pre-filled application forms.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
