Author: Clara Hackney

SFC Conclusions on Bookbuilding and Placing Proposals

The SFC has now published the conclusion paper to their February 2021 consultation on “(i) the Proposed Code of Conduct on Bookbuilding and Placing Activities in Equity Capital Market and Debt Capital Market Transactions and (ii) the “Sponsor Coupling” Proposal”.

While the SFC has retained much of the proposal, there are some key changes which firms will need to review.

Firms only have until August 2022 to implement the new policies and procedures they will need to comply with the new regulatory expectations when carrying out bookbuilding and placing activities.