Hong Kong Exchanges and Clearing Limited (HKEx) today (Friday) published a consultation paper on proposed changes to the filing and checklist requirements for the listing of equity securities on the Stock Exchange of Hong Kong, a wholly-owned subsidiary of HKEx.
The consultation paper seeks the public’s views regarding proposals to streamline the:
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Filing requirements for listing of additional equity securities by listed issuers. |
The filing requirements for IPOs and listing of equity securities by listed issuers involve different documentary requirements and require different timetables in practice. HKEx’s aim is to enhance the vetting process by streamlining the filing procedures and removing requirements to file unnecessary documents.
“This consultation paper is part of our ongoing initiatives to streamline the listing process,” said Mark Dickens, HKEx’s Head of Listing. “We focus on shortening the timetable, lowering costs and reducing the paperwork burden. We are not proposing any substantive changes in content requirements.
“In addition to providing us with insight on the proposed rule amendments, our discussions with practitioners leading to this public consultation prompted us to review a number of practices in the Listing Division,” Mr Dickens said. “We believe there is room for further improvement and will publish a number of guidance letters and listing decisions soon to explain some recent improvements.”
HKEx seeks comment in response to the consultation paper by 31 August 2009.
The consultation paper can be downloaded from the HKEx website. Interested parties are encouraged to respond to the consultation paper by completing and returning the questionnaire.
If the proposals are adopted, HKEx will work with the Securities and Futures Commission on the relevant rule amendments.