Report on Initial Public Offering Applications, Delisting and Suspensions (As at 29 February 2012)

Market Operations

29 Feb 2012

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 29 February 2012)

					Main Board	GEM	Total
New Applications Accepted
	a.		February 2012
			(i)	Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/ Chapter 11 of the GEM Listing Rules	5	2	7
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	0	N/A	0
			(iii)	Application(s) for transfer of listing from GEM to Main Board	0	N/A	0
			(iv)	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)	0 __________	0 __________	0 ________
			Sub-total		5	2	7
	b.		2012 Year-to-date
			(i)	Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/ Chapter 11 of the GEM Listing Rules	15	3	18
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	7	N/A	7
			(iii)	Application(s) for transfer of listing from GEM to Main Board	0	N/A	0
			(iv)	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)	0 __________	0 __________	0 ________
			Sub-total		22	3	25
Approvals in principle granted⁽¹⁾
	a.	February 2012			4	0	4
	b.	2012 Year-to-date			12	1	13
Active applications⁽¹⁾ (as at 29 February 2012)
1.	Under processing (based on listing application form accepted):
	a.	New applications accepted since 1 January 2012			18	3	21
	b.	Others			24 __________	16 ___________	40 ________
		Sub-total			42	19	61
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2012			6	1	7
	b.	Others			11 __________	0 __________	11 _________
Total					59	20	79

Inactive applications⁽²⁾ (since 1 January 2012)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed		13	0	13
	b.	Others		14	5	19
2.	Rejected			0	0	0
3.	Withdrawn			1 __________	0 __________	1 ________
	Sub-total			28	5	33
4.	Renewals⁽³⁾			(7) _________	(3) __________	(10) ________
Total				21	2	23
No. of new listings(since 1 January 2012)
		(i)	Companies listed pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules	11	3	14
		(ii)	Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules	24	N/A	24
		(iii)	Transfer of listing from GEM to Main Board	0	N/A	0
		(iv)	Deemed new listing(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)	0 __________	0 __________	0 ________
		Total		35	3	38

First Comment Letters Issued⁽⁴⁾
	a.	February 2012	13
	b.	Average number of days taken between the date of application and the date of issue of related first comment letter⁽⁵⁾	16

Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
	a.	February 2012	9
	b.	Average number of days taken between the date of request for guidance and the date of issue of written response⁽⁵⁾	5

⁽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, rejected or withdrawn within six months.
⁽³⁾	Includes all applications accepted within three months following a lapsed, rejected or withdrawn application by the same applicant.
⁽⁴⁾	First comment letters are the first letters issued by the staff of the Listing Division that contain the Listing Division’s comments on the respective listing applications.
⁽⁵⁾	Covers only the first comment letters/guidance letters issued in 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 29 February 2012)

				Main Board	GEM	Total
(a)	Number of delisted companies (since 1 January 2012)
	a.	Withdrawal of listing pursuant to privatisation		2	0	2
	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		1	0	1
	d.	Voluntary withdrawal of listing		0 __________	0 __________	0 __________
Total				3	0	3
(b)	Number of companies in suspension for three months or more (as at 29 February 2012)
	a.	Companies not in delisting procedures		24	6	30
	b.	a)	Main Board companies in delisting procedures:

			- first stage of delisting⁽⁶⁾	3	N/A	3
			- second stage of delisting⁽⁷⁾	3	N/A	3
			- third stage of delisting⁽⁷⁾	3	N/A	3
		b)	Main Board companies served with a notice of intention of cancellation of listing under Main Board Listing Rule 6.10	0	N/A	0
	c.	GEM companies given 6 months' notice for delisting		N/A	2	2
	d.	Delisting approved by the Listing Committee		2*	0	2*
	e.	Resumption proposal approved in principle by the Exchange subject to fulfillment of conditions		4 __________	2 __________	6 __________
Total				39	10	49

Other Information
(As at 29 February 2012)

		Main Board	GEM	Total
(c)	Number of listed companies (as at 29 February 2012)	1,334	173	1,507

⁽⁶⁾	Where the Exchange has issued a letter to the long-suspended company informing it of the commencement of the delisting procedures and that the Exchange will consider placing the company in the second stage of delisting if the company fails to submit a viable resumption proposal by the deadline set out in the letter.
⁽⁷⁾	Long-suspended Main Board companies having problems with sufficient operations or assets are placed in the second and third stages of delisting under Practice Note 17 to the Main Board Listing Rules.
*	Two companies applied to the Exchange to review the delisting decision. The review procedures are in progress.

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

Ends

Updated 29 Feb 2012