SFC Enhances Minority Investor Protection with New Takeovers Code Amendments
Amendments to Hong Kong’s Takeovers Code which strengthen investor protection took effect on 13 July 2018. The Takeovers Panel is now empowered to require a person who is in breach of specific provisions of the Code to pay compensation to current and former shareholders. The amendments also increase the threshold for independent shareholder approval of a whitewash waiver from a simple majority to 75%.