The amendment to the Act on public offering came into force on Saturday. The amendment adjusts Polish law to new EU regulations by setting the principles of publishing prospectuses and strengthening KNF supervision of public offerings. The amendment is to encourage shareholders of public companies to long-term commitment and to increase the transparency of legal relations between companies and investors.
The most important solutions adopted in the Act include the requirement for certain issuers to publish an information memorandum for each subsequent public offering. The amendment also introduces the possibility of submitting an application for admission of securities to trading on a regulated market by another entity, without the consent of the issuer and determining the conditions for such admission.