[Last updated: 1 January 2025, unless otherwise noted]

The Capital Markets Law does not grant any squeeze-out rights to majority shareholders. However, if a person and its related parties control 90% or more of the company's shares and voting securities, shareholders owning 3% or more of the shares or a minimum of 100 shareholders representing 2% of the free float shares, may, within 12 months from such ownership threshold being reached, request the FRA to oblige the majority shareholder to submit a mandatory tender offer for the minority shares.