Private placingsSpecific regulation
Are there specific rules for the private placing of securities? What procedures must be implemented to effect a valid private placing?
The QFMA Rulebook does not apply to private offerings. For such purposes, an offering is considered private if it is addressed directly to current securities holders or potential buyers not exceeding 100 and without having sent any invitation to the public.
The private placement of securities could potentially trigger the rules under the QFMA Mergers and Acquisition Rules and the Commercial Companies Law.Investor information
What information must be made available to potential investors in connection with a private placing of securities?
Only where the QFMA Mergers and Acquisitions Rules or Commercial Companies Law are triggered (ie, where certain thresholds of acquisitions are met).Transfer of placed securities
Do restrictions apply to the transferability of securities acquired in a private placing? And are any mechanisms used to enhance the liquidity of securities sold in a private placing?
Only where the QFMA Mergers and Acquisitions Rules or Commercial Companies Law are triggered (ie, where certain thresholds of acquisitions are met).