Reporting my transactions during a public offer period
What are the companies targeted by a public offer? How to report to the AMF transactions in the securities of a company targeted by an offer? Below are the list of listed companies targeted by a public offer as well as the procedures for reporting to the AMF transactions take place during the offer period.
The regulations, in short
Once the terms of a draft public offer have been announced (i.e. the start of the pre-offer period), strict rules apply to trading in the securities concerned. Transparency procedures are strengthened for offers involving the securities of the target company and, where applicable, those of the bidder (especially where all or part of the offer is to be settled in securities). The same holds throughout the offer period until the end.
Find information in a Q&A on proprietary trading by investment service providers during a public offer period (Position DOC-2009-22).
List of companies involved in a public offer
The AMF website lists all the companies listed on Euronext Paris and Euronext Growth for which:
- a draft public offer has been announced but has not yet been submitted to the AMF (companies in the pre-offer period);
- a draft public offer has been submitted to the AMF (companies in the offer period).
Download the list of companies involved in a public offer
The rules for trading and for reporting transactions are applicable to the offeree securities mentioned on this list, and to the offeror securities if the draft offer entails the delivery of any offeror securities.
Reporting buying and selling securities during a public offer period
One must disclose trading or transactions occurring during the offer period no later than the following trading day, via the use of one of the following two available forms, depending on one’s status:
- Type I form for the persons or entities referred to in I of Article 231-46 and in Article 231-47 of the AMF General Regulation
- Type II form for the service providers (as defined in Article 231-2, 4°) referred to in I of Article 231-51 of the General Regulation, and for investment service providers other than the service providers in question meeting the criteria referred to in Article 231-52.
Each form should be accompanied by a headed covering letter signed by a duly authorised person. It should specify the contact details of a person who could be reached by anAMF representative if precise details or supplements are needed.
The form should be sent to the AMF, by the reporting entity itself or by its advisers, via email to reportingOPA [at] amf-france.org.
My contact at the AMF
On the same topic
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02