Listing on the Main Board

A market for more established companies that satisfy our financial and track record requirements. Companies listed on our Main Board range from conglomerates, banks and property developers to internet companies and healthcare providers. Issuers can choose to list on the Hong Kong Main Board in the form of shares or Hong Kong depositary receipts.

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Appointing an experienced team of professional advisors is crucial for the success of the IPO. Professional advisors typically include Sponsor(s) and Underwriter(s), foreign and domestic lawyers, accountants, etc. It is required to appoint a Sponsor at least 2 months before submission of an IPO application and to notify HKEX in writing within five business days of its appointment.

The Company should discuss with professional advisors whether a listing is right for the Company, the time and cost, and the potential issues, challenges and obligations the Company may face once listed.

Professional advisors conduct due diligence on the Company and assist in the drafting of the prospectus (aka Application Proof, or “AP"). The prospectus must contain all the information that an investor reasonably requires to make an informed investment decision.

The Listing Application (“A1”) which includes the AP is submitted to the Listing Department (“LD”). Assuming the A1 is substantially complete, LD will confirm receipt and publish both Chinese and English versions of the AP online.

LD will subsequently conduct detailed vetting of the A1 based on eligibility, suitability, sustainability, compliance of rules and sufficient disclosure.

First round of comments will generally be provided within 15 business days from receipt of application. There is no pre-set time frame for a listing timetable. This will depend on the Company’s response time and quality of response.

Listing Committee (“LC”) will review the application and determine if it is suitable to proceed with its IPO.

Underwriters typically help prepare a marketing process for the Company. The marketing process can include an investor education portion and an IPO roadshow.

After successfully pricing and allocating the shares to institutional investors and retail investors, the Company will be listed on the Stock Exchange of Hong Kong for trading.

Listing on the Main Board

Appoint Sponsors and Other Professional Advisors

Listing Preparation Process

Submitting Listing Application to Listing Department

Vetting by the Listing Department

Hearing by Listing Committee

Marketing Period

List on Stock Exchange of Hong Kong