SFC proposes changes to the Hong Kong Takeovers Code

On 19 May 2023, the Securities and Futures Commission (“SFC”) published a consultation paper on proposed amendments to the Codes on Takeovers and Share Buy-backs (the “Codes”). The amendments proposed in this consultation paper span numerous aspects of the Codes and a majority of the changes seek to codify current practices of the Takeover Executive. The consultation is open for comments until 23 June 2023.

In this bulletin, we consider the key proposed changes. This is not intended to be a full summary of the consultation paper. Please feel free to contact us to discuss further.