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The Securities Commission Malaysia (SC) today released the revised Prospectus Guidelines and Equity Guidelines to enhance the disclosure requirements of abridged prospectuses and for circulars related to proposals that would result in a significant change in the business direction or policy of a listed corporation, including back-door listings and reverse take-overs.
The amendments aim to make abridged prospectuses and circulars more readerfriendly while ensuring that disclosures focus on meaningful information and are useful in helping shareholders in making informed investment decisions.
These amendments were made after extensive consultation with key stakeholders such as principal advisers, reporting accountants, independent advisers, investors and representatives of listed corporations.
These amendments will come into effect on 13 March 2019. However, market participants and listed corporations are encouraged to adopt these revisions earlier for the immediate benefit of shareholders and investors.
More details of the revisions can be found in Division 5, Part II of the Prospectus Guidelines (https://www.sc.com.my/regulation/guidelines/prospectus) and the Equity Guidelines (https://www.sc.com.my/regulation/guidelines/equity) respectively.
