Recent changes to the ASX Listing Rule prescribed timetables for
rights issues will allow companies to raise capital more quickly by
providing for:
- a shortened timetable for traditional rights issues; and
- new standard timetables for accelerated rights issues.
The changes came into effect on 14 April 2014 and the new
timetable for traditional rights issues will apply to rights issues
with a record date on or after 22 April 20141.
In this Alert, Partner Michael Hansel and Associate Katherine
Hammond set out the key changes that will impact companies looking
to undertake a rights issue.
Key points
- The ASX has reduced the standard timetable for renounceable and
non-renounceable traditional rights issues from 26 business days to
19 business days.
