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Report on Initial Public Offering Applications, Delisting and Suspensions (As at 31 March 2022)

Market Operations
31 Mar 2022

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 31 March 2022)
 

Main Board GEM Total
New Applications Accepted(1)

 
a. March 2022 24 0 24
b. 2022 Year-to-date 60 1 61
Approvals in principle granted(1)
 
a. March 2022
14 0 14
b. 2022 Year-to-date 26 0 26
Active applications(1) (as at 31 March 2022)
 
1. Under processing  
a. New applications accepted since 1 January 2022 51 1 52
b. Others

77

__________

4

__________

81

__________

Sub-total 128 5 133
2. Approval in principle granted  
a. Approvals granted since 1 January 2022 10 0 10
b. Others

14

__________

0

__________

14

__________

Total 152 5 157



Inactive applications(2) (since 1 January 2022)
 
1. Lapsed  
a. Approval in principle granted but not listed prior to application lapsed 11 0 11

b. Others 61 5 66
2. Rejected 0 0 0
3. Withdrawn 2 0 2
4. Returned(3)

0

__________

0

__________

0

__________

Total 74 5 79

5. Renewals(4)
45 1 46
6. Returned cases resubmitted(5)

0

__________

0

__________

0

__________

Tot19 45 1 46

No. of new listings (since 1 January 2022)


 
1. Newly listed companies(6)              24 0 24
2. Transfer of listing from GEM to Main Board

1

__________

N/A

__________

1

__________

Total 25 0 25



First Comment Letters Issued(7)
 
a. March 2022
27
b. Average number of days taken between the date of application and the date of issue of related first comment letter 16
Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
 
a. March 2022 13

b. Average number of days taken between the date of request for guidance and the date of issue of written response(8) 14

(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(2) Includes any application (or renewal) not approved, returned, rejected or withdrawn within six months from date of application.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 31 March2022)

Main Board GEM Total
(a) Number of delisted companies (since 1 January 2022)

 
a. Withdrawal of listing pursuant to privatisation 3 1 4
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 9 2 11
d. Voluntary withdrawal of listing

0

__________

0

__________

0

__________

Total 12 4 16
(b) Number of companies in suspension for three months or more (as at 31 March 2022)
 
a.  Main Board companies in delisting procedures under Practice Note 17(9) 2 N/A
2
b. Other suspended companies(10)  74 19 93
c. Delisting approved by the Listing Committee

9*

__________

-

__________

9

__________

Total 85 19 104


Other Information
(As at 31 March 2022)

Main Board GEM  Total
(c) Number of listed companies (as at 31 March 2022) 2,224 349 2,573

(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 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 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 20 Apr 2022