Rights issue timing change: RE trading must end at least three working days before issue closure to allow settlement. The circular amends the timing requirement for rights issues: the previous 'at least four days' gap between closure of RE trading and issue closure is replaced with 'at least three working days' to accommodate T+2 settlement and one additional day for investor application; the change applies immediately to all rights issues and fast track rights issues and requires involved entities and stock exchanges to ensure and disseminate compliance.
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.
Rights issue timing change: RE trading must end at least three working days before issue closure to allow settlement.
The circular amends the timing requirement for rights issues: the previous 'at least four days' gap between closure of RE trading and issue closure is replaced with 'at least three working days' to accommodate T+2 settlement and one additional day for investor application; the change applies immediately to all rights issues and fast track rights issues and requires involved entities and stock exchanges to ensure and disseminate compliance.
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