Offer for Sale mechanism revised: retail bids deferred to next trading day while non retail bids may be carried forward. Revision of the Offer for Sale mechanism reallocates bidding windows and settlement timing to encourage retail participation: sellers must notify exchanges by the day before the OFS; non retail bidders alone may bid on the opening day to determine the cut off price; retail investors bid on the next trading day with any retail discount applicable only to those bids; settlement for retail bids follows the normal post trade cycle. Non retail bidders may elect to carry forward and revise bids to the retail day, and unsubscribed retail shares are reallocated to such carried forward non retail bids at cut off price or higher.
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.
Offer for Sale mechanism revised: retail bids deferred to next trading day while non retail bids may be carried forward.
Revision of the Offer for Sale mechanism reallocates bidding windows and settlement timing to encourage retail participation: sellers must notify exchanges by the day before the OFS; non retail bidders alone may bid on the opening day to determine the cut off price; retail investors bid on the next trading day with any retail discount applicable only to those bids; settlement for retail bids follows the normal post trade cycle. Non retail bidders may elect to carry forward and revise bids to the retail day, and unsubscribed retail shares are reallocated to such carried forward non retail bids at cut off price or higher.
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