Regulatory Framework and Rules
Listing Decisions
Category by Topics or Rule Numbers

Rule Numbers (Main Board) - Chapter 2

Rule 2.03

- Whether certain rights granted to Investor X would be permitted to continue after listing, given that the rights were not generally available to other shareholders of Company A and the nominated directors' compliance with such rights might, in certain circumstances, conflict with the duty of directors to act in the best of the interests of shareholders as a whole at all times [LD59-1] [August 2007]

- Whether the guaranteed discount to the IPO price of the mandatory Convertible Bonds and the negative pledge under the non-mandatory Convertible Bonds available only to the Convertible Bondholders would violate the fair and orderly principle and the requirement to treat all holders of listed securities fairly and equally under Listing Rule 2.03 [LD59-2] [August 2007]

 

Rule 2.03(2)

- Whether and under what conditions would Company A be allowed to revise the indicative offer price downwards after issue of the prospectus but before close of the offer [LD61-1] [July 2008]

 

Rule 2.03(2) and (4)

- Whether a placing of Company A's shares to the Pre-IPO Investor prior to listing that met the technical requirements regarding disclosure, lock-up and public-float as memorialised in Listing Decision HKEx-LD36-1 complied with Listing Rule 2.03 (case 1) [LD55-1] [June 2006]

- Whether a placing of Company A's shares to the Pre-IPO Investor prior to listing that met the technical requirements regarding disclosure, lock-up and public-float as memorialised in Listing Decision HKEx-LD36-1 complied with Listing Rule 2.03 (case 2) [LD55-2] [June 2006]

- Whether a placing of Company A's shares to the Pre-IPO Investor prior to listing that met the technical requirements regarding disclosure, lock-up and public-float as memorialised in Listing Decision HKEx-LD36-1 complied with Listing Rules 2.03 and 9.09 (case 3) [LD55-3] [June 2006]

- Whether and under what circumstances could the domestic shares of Company X held by Company Y be listed on the Exchange as H shares and sold in the open market [LD56-1] [September 2006]

 

Rule 2.03(3)

- Whether a disclosure of the historical dividend yield in the summary section of the prospectus without explanation of its basis of calculation or likelihood of continuing in the future was misleading [LD50-3] [March 2006]

 

Rule 2.03(4)

- Whether the pre-IPO investment in Company A by Investor A would fulfill the requirement under Listing Rule 2.03(4) that all holders of listed securities are to be treated fairly and equally [LD59-3] [August 2007]

- Whether the grant of veto rights over certain major corporate matters to the Investors of the Convertible Instruments prior to listing would violate the requirement to treat all holders of listed securities fairly and equally under Listing Rule 2.03(4) [LD59-4] [August 2007]

 

Rule 2.03(2), (4) and (5)

- Whether certain special rights available only to the Bondholders under the terms of the convertible bonds would be in compliance with the general principle that all holders of listed sec urities are to be treated fairly and equally under Listing Rule 2.03 [LD59-5] [August 2007]

- Whether the special rights available to the Pre-IPO Investor complied with the principles under Listing Rules 2.03(2) and (4) [LD59-6] [August 2007]

 

Rule 2.04

Whether the Exchange would deem the Purchaser as a connected person of Company A upon completion of the Transaction under Main Board Listing Rule 2.04 [LD63-1] [November 2008]

Whether Parent Shareholders were connected persons of Company A under the Listing Rules by virtue of their substantial interests in Parent Company, and if not, whether the Exchange would deem the Parent Shareholders to be connected persons of Company A [LD63-2] [November 2008]

 

Rules 2.07(3) and 2.07C(2)

- Whether cosmetic changes and correction of spelling and grammatical errors to the hard copy of an annual report, a soft copy of which had been published on the Exchange's website could be made by Company A [LD49-1] [March 2006]

 

Rule 2.07B

- Single language corporate communications - on-going arrangement - whether announcement needed to be re-published [LD32-3] [November 2002]

 

Rule 2.13

- Material disparity between the IPO price of the shares of Company A (the "Shares") and the effective cost to the pre-IPO shareholders of Company A of the Sshares acquired by them in transactions shortly prior to listing [LD41-1] [November 2004]

- Whether the inclusion of risk factor disclosure regarding the variability or unreliability of the profit forecast of Company A in its prospectus was inappropriate [LD50-4] [March 2006]

- Whether and how unaudited interim financial information should be included in the prospectus of Company A when Company A had published such information that covered a more recent interim period than that required by the Listing Rules in accordance with the requirements of another exchange on which its shares were listed [LD54-4] [June 2006]

- Whether and how unaudited interim financial information of Subsidiary A should be included in the prospectus of Company A when Subsidiary A had published such information in accordance with the requirements of another exchange on which its shares were listed [LD54-5] [June 2006]

- Whether and under what circumstances could the domestic shares of Company X held by Company Y be listed on the Exchange as H shares and sold in the open market [LD56-1] [September 2006]

 

Rule 2.13(2)

- Whether a disclosure of the historical dividend yield in the summary section of the prospectus without explanation of its basis of calculation or likelihood of continuing in the future was misleading [LD50-3] [March 2006]