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Report on Initial Public Offering Applications, Delisting and Suspensions (As at 31 March 2021)

Market Operations
31 Mar 2021

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 31 March 2021)
 

Main Board GEM Total
New Applications Accepted(1)

 
a. March 2021 27 3 30
b. 2021 Year-to-date 69 3 72
Approvals in principle granted(1)
 
a. March 2021
11 0 11
b. 2021 Year-to-date 29 0 29
Active applications(1) (as at 31 March 2021)
 
1. Under processing  
a. New applications accepted since 1 January 2021 56 3 59
b. Others

57

__________

11

__________

68

__________

Sub-total 113 14 127
2. Approval in principle granted  
a. Approvals granted since 1 January 2021 6 0 6
b. Others

0

__________

0

__________

0

__________

Total 119 14 133



Inactive applications(2) (since 1 January 2021)
 
1. Lapsed  
a. Approval in principle granted but not listed prior to application lapsed 6 0 6

b. Others 34 5 39
2. Rejected 0 0 0
3. Withdrawn 1 1 2
4. Returned(3)

1

__________

0

__________

1

__________

Total 42 6 48 

5. Renewals(4)
29 5 34
6. Returned cases resubmitted(5)

0

__________

0

__________

0

__________

Total 29 5 34

No. of new listings (since 1 January 2021)


 
1. Newly listed companies(6)              38 1 39
2. Transfer of listing from GEM to Main Board

0

__________

N/A

__________

0

__________

Total 38 1 39



First Comment Letters Issued(7)
 
a. March 2021
26
b. Average number of days taken between the date of application and the date of issue of related first comment letter 14
Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
 
a. March 2021 30

b. Average number of days taken between the date of request for guidance and the date of issue of written response(8) 12

(1) Includes application(s) by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules, application(s) for transfer of listing from GEM to the Main Board, and deemed new applicant(s)pursuant to Main Board Listing Rule 8.21C or Main Board Listing Rule 14.84, and very substantial acquisition(s) treated as reverse takeover(s) pursuant to Main Board Listing Rule 14.06(6)/GEM Listing Rule 19.06(6).
(2) Includes any application (or renewal) not approved, returned, rejected or withdrawn within six months from date of application.
(3) Applications accepted for vetting but subsequently returned on the ground that the information in the listing application proof or related documents is not substantially complete. 
(4) Includes all applications accepted within three months following a lapsed, rejected or withdrawn application by the same applicant.
(5) Applications resubmitted to the Exchange after an 8-week moratorium from the date of the return letter.
(6) Not include transfer of listing from GEM to the Main Board. 
(7) First comment letters are the first letters issued by Listing Department staff that contain the comments on the respective listing applications. It only covers the first comment letters issued this month. For reports issued from January 2011 onwards, non-business days have been subtracted from “the average number of days taken”.  The figures exclude cases for a transfer of listing from GEM to the Main Board. If included, the number of first comment letters issued is 29 and the average number of days taken is 15.
(8) Covers only the guidance letters issued this month. For the reports issued from January 2011 onwards, non-business days have been subtracted from "the average number of days taken".


Delisting and Suspension Information
 
(As at 31 March 2021)

Main Board GEM Total
(a) Number of delisted companies (since 1 January 2021)

 
a. Withdrawal of listing pursuant to privatisation 5 1 6
b. Transfer of listing from GEM to Main Board N/A 0 0
c. Cancellation of listing pursuant to delisting procedures under the Listing Rules 9 2 11
d. Voluntary withdrawal of listing

0

__________

0

__________

0

__________

Total 14 3 17
(b) Number of companies in suspension for three months or more (as at 31 March 2021)
 
a.  Main Board companies in delisting procedures under Practice Note 17(9) 6 N/A
6
b. Companies given notice for delisting(10)  0 0 0
c. Other suspended companies(11)  36 16 54
d. Delisting approved by the Listing Committee

9*

__________

2*

__________

11

__________

Total 53 18 71


Other Information
(As at 31 March 2021)

Main Board GEM  Total
(c) Number of listed companies (as at 31 March 2021) 2,187 366 2,553

(9) Main Board companies that are placed in a three stage process of delisting under Practice Note 17 to the Main Board Listing Rules for failure to maintain sufficient operations or assets.
(10) The Exchange has decided to commence procedures under Main Board Rule 6.10 or GEM Rule 9.15 to cancel the listing of companies on the grounds set out in Main Board Rule 6.01 or GEM Rule 9.14.
(11) The Exchange may cancel the listing of companies if trading in their securities has remained suspended for 18 continuous months under Main Board Rule 6.01A or 12 continuous months under GEM Rule 9.14A.  Depending on the specific facts and circumstances of a suspended company, the Exchange may at any time publish a delisting notice stating its right to delist the company if it fails to resume trading within a shorter period specified in the notice.
   
* 9 Main Board companies and 2 GEM companies have applied to the Exchange to review the delisting decisions.  The review procedures are in progress.
 

This report is updated on the last trading day of each month.

  

 
   

Ends

Updated 31 Mar 2021