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SEBI amends listing agreements to boost transparency

SEBI amends listing agreements to boost transparency
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First Published: Thu, Dec 16 2010. 11 54 PM IST
Updated: Thu, Dec 16 2010. 11 54 PM IST
Mumbai: The Securities and Exchange Board of India (Sebi) on Thursday said it has made certain amendments in the equity listing agreements of companies regarding disclosures.
The market regulator said companies going public need to announce their revised shareholding pattern at least one day prior to the day of listing.
SEBI also said it had decided that companies need to announce in advance a fixed date for payment of dividends and credit of bonus shares.
The amendment also now requires listed companies to maintain a functional website giving details of all basic information about the firm.
Companies are now required to disclose details of any agreements with media firms on their websites and notify the stock exchanges, the regulator added in a statement.
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First Published: Thu, Dec 16 2010. 11 54 PM IST