Report on Initial Public Offering Applications, Delisting and Suspensions (As at 30 September 2021)

First Comment Letters Issued⁽⁷⁾

September 2021

Average number of days taken between the date of application and the date of issue of related first comment letter

Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules

September 2021

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

Market Operations

30 Sep 2021

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 30 September 2021)

				Main Board	GEM	Total
New Applications Accepted⁽¹⁾
	a.		September 2021	26	1	27
	b.		2021 Year-to-date	263	8	271
Approvals in principle granted⁽¹⁾
	a.	September 2021		14	0	14
	b.	2021 Year-to-date		99	0	99
Active applications⁽¹⁾(as at 30 September 2021)
1.	Under processing
	a.	New applications accepted since 1 January 2021		166	6	172
	b.	Others		16 __________	6 __________	22 __________
		Sub-total		182	12	194
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2021		18	0	18
	b.	Others		0 __________	0 __________	0 __________
Total				200	12	212

Inactive applications⁽²⁾ (since 1 January 2021)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed	18	0	18
	b.	Others	118	17	135
2.	Rejected		0	0	0
3.	Withdrawn		6	3	9
4.	Returned⁽³⁾		2 __________	0 __________	2 __________
	Total		144	20	164

5.	Renewals⁽⁴⁾		73	12	85
6.	Returned cases resubmitted⁽⁵⁾		0 __________	0 __________	0 __________
	Total		73	12	85
No. of new listings (since 1 January 2021)
1.	Newly listed companies⁽⁶⁾		93	1	94
2.	Transfer of listing from GEM to Main Board		1 __________	N/A __________	1 __________
Total			94	1	95

⁽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⁽²⁾	Includes any application (or renewal) not approved, returned, rejected or withdrawn within six months from date of application.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.
⁽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 30 September 2021)

			Main Board	GEM	Total
(a)	Number of delisted companies (since 1 January 2021)
	a.	Withdrawal of listing pursuant to privatisation	14	3	17
	b.	Transfer of listing from GEM to Main Board	N/A	1	1
	c.	Cancellation of listing pursuant to delisting procedures under the Listing Rules	19	9	28
	d.	Voluntary withdrawal of listing	8 __________	0 __________	8 __________
Total			41	13	54
(b)	Number of companies in suspension for three months or more (as at 30 September 2021)
	a.	Main Board companies in delisting procedures under Practice Note 17⁽⁹⁾	4	N/A	4
	b.	Companies given notice for delisting⁽¹⁰⁾	0	0	0
	c.	Other suspended companies⁽¹¹⁾	81	14	95
	d.	Delisting approved by the Listing Committee	2* __________	2* __________	4 __________
Total			87	16	103

Other Information
(As at 30 September 2021)

			Main Board	GEM	Total
(c)	Number of listed companies (as at 30 September 2021)		2,201	358	2,559

⁽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.

*	2 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 30 Nov 2021