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Book IV - Collective investment products
Title II - AIFS
Chapter II - Funds open to retail investors
Section 4 - Real estate investment companies and forestry investment companies
Paragraph 1 - General regime
Sub-paragraph 4 - Disposals
Article 422-213 from 21/12/2013

Article 422-213 into force since

  • Version into force since
ELI : /en/eli/fr/aai/amf/rg/article/422-213/20131221/notes

The execution price shall be the price at which the greatest quantity of shares may be traded.

If, at the same time, multiple prices may be determined on the basis of this initial criterion, the execution price shall be the price at which the number of non-traded shares is the lowest.

In the event of neither of these two criteria allowing a single price to be determined, the execution price shall be that closest to the most recent execution price determined.

The execution price, and the quantities of shares traded, shall be made public by any appropriate means on the day on which the price is determined.

In the event of it not being possible to determine an execution price, the management company shall, in the same conditions as those set forth in the previous clause, publish the highest purchase price and the lowest sale price, each accompanied by the quantities of shares offered.