- Changes comprise: Two additions; Five updates; Twenty withdrawals
- Aim is to provide greater clarity to market
The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), today (Friday) updated and streamlined some of its Guidance Materials – Guidance Letters, Listing Decisions and Frequently Asked Questions (FAQ) – to provide greater clarity to the market.
The Exchange publishes Guidance Materials from time to time to provide the market with guidance and clarity on the application of certain Listing Rules and practices. The Exchange noted its Guidance Materials had increased significantly over the years, and a number of professional advisers commented that the Guidance Materials should be streamlined.
Details of today’s changes are listed below. They do not affect policy direction which remains the same.
Changes to the Exchange’s Guidance Materials
- Two new Guidance Letters – HKEX-GL98-18 (Guidance on disclosure in listing documents); and HKEX-GL99-18 (Guidance on the assessment of a sponsor’s independence).
- Four updated Guidance Letters – HKEX-GL18-10 (Guidance on publicity materials and e-IPO advertisements); HKEX-GL55-13 (Guidance on Documentary Requirements and Administrative Matters for New Listing Application (Equity)); HKEX-GL56-13 (Guidance on disclosure requirements for substantially complete Application Proofs and publication of Application Proofs and Post Hearing Information Packs on the Exchange’s website); and HKEX-GL81-15 (Guidance on Mixed Media Offer).
- One updated FAQ series – FAQ Series 24 (Listing Rule changes to complement the Securities and Futures Commission’s New Sponsor Regulation).
- Twenty withdrawn Guidance Materials – 12 Guidance Letters, five Listing Decisions, two FAQ series and one FAQ.
The withdrawn materials were either outdated or incorporated into the new or updated Guidance Materials above.
The Exchange will continue to review and streamline its Guidance Materials as appropriate. The latest new and updated Guidance Materials can be found on the HKEX website. The withdrawn Guidance Materials can be found in the Archive section on the HKEX website.
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