SC issues new guidelines on offer of shares by unlisted public firms

The SC cautioned UPCs that offering shares to retail investors without a prospectus is a serious breach under the Capital Markets and Services Act 2007.

KUALA LUMPUR: The Securities Commission (SC) had on Monday issued new guidelines on offer of shares by unlisted public companies (UPCs) to sophisticated investors which will take effect on Aug 1.

It said the guidelines aim to safeguard investors’ interest due to increased queries and complaints received by the SC on offering of shares by UPCs.