Exchange Traded Bonds ("ETB")
Can an issuer issue ETB which is convertible or
exchangeable into listed securities?
An issuer may only issue ETB which is convertible or exchangeable into listed shares, and not any other type of securities. Such issuer must comply with Chapter 4B and the provisions in Part I of Chapter 6 of the Main LR (which relates to the requirements for an issue of convertible securities), as if it were the listed issuer, with the necessary modifications.