• Book Building

    • OFS-2.3.12

      The preliminary/red herring prospectus containing all the information except the information regarding the price at which the securities are offered, must be filed with the CBB prior to it being used in any manner by the issuer or its advisors.

      January 2014

    • OFS-2.3.13

      The lead manager and/or the underwriter to the issue must be nominated by the issuer as a book runner and his name must be disclosed in the prospectus.

      Amended: October 2017
      January 2014

    • OFS-2.3.14

      The preliminary/red herring prospectus to be circulated may indicate the price band within which the securities are being offered for subscription.

      January 2014

    • OFS-2.3.15

      The book runner, on receipt of the offers must maintain a record of the names and number of securities ordered and the price at which the investors are willing to subscribe to securities under the placement portion.

      January 2014

    • OFS-2.3.16

      On receipt of the information, the book runner and the issuer must determine the price at which the securities are to be offered to the public.

      January 2014

    • OFS-2.3.17

      The book runner and other appointed advisors associated with the book building process must maintain records of the book building process and the CBB has the right to inspect and obtain a copy of such records.

      January 2014

    • OFS-2.3.18

      Details of the outcome of the book building process must be disclosed in the prospectus or offer document and must include information such as the general range of the prices at which the institutional investors are willing to subscribe to under the placement portion, the total number of securities ordered and the total number of institutions involved. The CBB shall have the right to require the disclosure of any other additional information if it deems necessary.

      Added: October 2017

    • OFS-2.3.19

      The issuer, lead manager and/or underwriter must consider the outcome of the book building process and/or any other processes or arrangements employed, when establishing the final offer price at which the securities are to be offered to the public. A statement to the effect must be duly disclosed in the prospectus.

      Added: October 2017