Finansinspektionen is investigating whether Borse Dubai Limited’s press release dated 9 August could be considered to constitute a public takeover bid. If this should be the case Borse Dubai Limited would be under the duty to file an offer document with Finansinspektionen within four weeks from the press release.
In a letter dated 10 August FI has requested Borse Dubai Limited to answer a number of questions about the acquisitions and the book build process. *
A supplementary question was sent to Borse Dubai Limited on 13 August:
How many were on the list when Borse Dubai Limited started to contact investors and were additional investors invited during the day?
Borse Dubai Limited answered the questions of FI, Tuesday 14 August.
* Book building is basically the process of generating a book of investor demand for efficient price discovery. It is a mechanism where, during the fixed period for which the book is open, bids are collected from investors at various prices, normally between a floor price and a cap price. The final price is not determined until the end of the process when the book has 'closed'.
The regulatory framework for take over bids
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