The Securities and Futures Commission (SFC) of Hong Kong, has become increasingly concerned with listed companies pricing acquisitions at unreasonably high levels or selling assets at prices below their market value and harming shareholders' interests. To address these concerns, on May 15, 2017, the SFC issued a guidance note on directors' duties, a circular to financial advisers regarding valuations in corporate transactions and a statement on the liability of valuers for the disclosure of false or misleading information.
The guidance note sets out the SFC's expectations on the due diligence that directors should take regarding corporate transactions. The circular reminds financial advisers of their obligations under the Corporate Finance Adviser Code. The in-house seminar will cover the impact of the guidance note and current valuation trends including the below topics:
- SFC guidance on corporate transactions and the use of valuations
- Due diligence during the valuation process
- Scenario and synergy analysis in valuation for M&A
- Earnout arrangements and non-cash consideration for M&A
- Financial reporting and tax environment for cross-border transactions
Registration (Light lunch will be served)
1:00 p.m. – 2:00 p.m.
Seminar / Q & A
All the time slots mentioned above are in HKT
Register for the seminar
- Ricky Lee, Managing Director, Duff & Phelps Hong Kong