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Report on Initial Public Offering Applications, Delisting and Suspensions (As at 30 December 2022)

Market Operations
30 Dec 2022

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 30 December 2022)
 

Main Board GEM Total
New Applications Accepted(1)

 
a. December 2022 10 0 10
b. 2022 Year-to-date 184 3 187
Approvals in principle granted(1)
 
a. December 2022
16 0 16
b. 2022 Year-to-date 153 0 153
Active applications(1) (as at 30 December 2022)
 
1. Under processing  
a. New applications accepted since 1 January 2022 51 2 53
b. Others

11

__________

1

__________

12

__________

Sub-total 62 3 65
2. Approval in principle granted  
a. Approvals granted since 1 January 2022 26 0 26
b. Others

2

__________

0

__________

2

__________

Total 90 3 93



Inactive applications(2) (since 1 January 2022)
 
1. Lapsed
a. Approval in principle granted but not listed prior to application lapsed 69 0 69

b. Others 219 15 234
2. Rejected 0 0 0
3. Withdrawn 4 1 5
4. Returned(3)

0

__________

0

__________

0

__________

Total 292 16 308

5. Renewals(4)
172 8 180
6. Returned cases resubmitted(5)

0

__________

0

__________

0

__________

Total 172 8 180

No. of new listings (since 1 January 2022)


 
1. Newly listed companies(6)              89 0 89
2.  Investment vehicle(s) listed  pursuant to Chapters 20 and 21 of the Main Board Listing Rules  
30  N/A 30
3. Transfer of listing from GEM to Main Board

1

__________

N/A

__________

1

__________

Total 120 0 120



First Comment Letters Issued(7)
 
a. December 2022
8
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. December 2022 12

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)

Includes 5 applications by Special Purpose Acquisitions Companies pursuant to Chapter 18B of the Main Board Listing Rules. Not include (i) applications by investment vehicle(s) (including Exchange Traded Funds (ETFs) and Real Estate Investment Trust (REITs)) and investment companies pursuant to Chapters 20 and 21 of the Main Board Listing Rules and (ii) application(s) for 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 December 2022)

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

 
a. Withdrawal of listing pursuant to privatisation 13 2 15
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 37 10 47
d. Voluntary withdrawal of listing

2

__________

0

__________

2

__________

Total 52 13 65
(b) Number of companies in suspension for three months or more (as at 30 December 2022)
 
a. Other suspended companies(9)  78 16 94
b. Delisting approved by the Listing Committee

11

__________

1

__________

12*

__________

Total 89 17 106


Other Information
(As at 30 December 2022)

Main Board GEM  Total
(c) Number of listed companies (as at 30 December 2022) 2,257 340 2,597

(9) 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.
   
* 7 Main Board companies and 1 GEM company 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 Dec 2022