Equity capital markets Q&A tool

Search the Equity capital markets Country Q&A in the Capital Markets Global Guide: Equity by question and jurisdiction.

Step 1: Check the boxes to select the questions and the jurisdictions for comparison.
Step 2: Click the "submit" button.
Step 3: Scroll down to view answers and check law stated dates for each jurisdiction.

Choose your questions - Select all/De-select all

Choose your jurisdictions - Select all/De-select all

Main equity markets/exchanges

1. What are the main equity markets/exchanges in your jurisdiction? Outline the main market activity and deals in the past year.
 
2. What are the main regulators and legislation that applies to the equity markets/exchanges in your jurisdiction?
 

Equity offerings

3. What are the main requirements for a primary listing on the main markets/exchanges?
 
4. What are the main requirements for a secondary listing on the main markets/exchanges?
 
5. What are the main ways of structuring an IPO?
 
6. What are the main ways of structuring a subsequent equity offering?
 
7. What are the advantages and disadvantages of rights issues/other types of follow on equity offerings?
 
8. What are the main steps for a company applying for a primary listing of its shares? Is the procedure different for a foreign company and is a foreign company likely to seek a listing for shares or depositary receipts?
 

Advisers: equity offering

9. Outline the role of advisers used and main documents produced in an equity offering. Does it differ for an IPO?
 

Equity prospectus/main offering document

10. When is a prospectus (or other main offering document) required? What are the main publication, regulatory filing or delivery requirements?
 
11. What are the main exemptions from the requirements for publication or delivery of a prospectus (or other main offering document)?
 
12. What are the main content or disclosure requirements for a prospectus (or other main offering document)? What main categories of information are included?
 
13. How is the prospectus (or other main offering document) prepared? Who is responsible and/or may be liable for its contents?
 

Marketing equity offerings

14. How are offered equity securities marketed?
 
15. Outline any potential liability for publishing research reports by participating brokers/dealers and ways used to avoid such liability.
 

Bookbuilding

16. Is the bookbuilding procedure used and in what circumstances? How is any related retail offer dealt with? How are orders confirmed?
 

Underwriting: equity offering

17. How is the underwriting for an equity offering typically structured? What are the key terms of the underwriting agreement and what is a typical underwriting fee and/or commission?
 

Timetable: equity offerings

18. What is the timetable for a typical equity offering? Does it differ for an IPO?
 

Stabilisation

19. Are there rules on price stabilisation and market manipulation in connection with an equity offering?
 

Tax: equity issues

20. What are the main tax issues when issuing and listing equity securities?
 

Continuing obligations

21. What are the main areas of continuing obligations applicable to listed companies and the legislation that applies?
 
22. Do the continuing obligations apply to listed foreign companies and to issuers of depositary receipts?
 
23. What are the penalties for breaching the continuing obligations?
 

Market abuse and insider dealing

24. What are the restrictions on market abuse and insider dealing?
 

De-listing

25. When can a company be de-listed?
 

Reform

26. Are there any proposals for reform of equity capital markets/exchanges? Are these proposals likely to come into force and, if so, when?
 
{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247322311868", "objName" : "Equity capital markets Q&A tool", "userID" : "2", "objUrl" : "http://us.practicallaw.com/cs/Satellite/us/resource/7-501-2792?null", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "true", "analyticsPermCookie" : "22e97be00:15b0af9e485:3b38", "analyticsSessionCookie" : "22e97be00:15b0af9e485:3b39", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }