The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), today (Friday) published a guidance letter on the application of the reverse takeover rules in its Listing Rules.

"We have conducted a number of reviews of the reverse takeover rules in recent years to improve the regulation of reverse takeovers and certain significant acquisitions," said David Graham, HKEx's Chief Regulatory Officer and Head of Listing.  "The guidance letter consolidates and reflects our current approach in applying the reverse takeover rules, which was endorsed by the Listing Committee and discussed in the 2009, 2010 and 2013 Listing Committee annual reports. It also provides guidance on the related administrative requirements, with a view towards facilitating the vetting of issuers' proposed transactions."

The guidance letter is available under the "Rules & Regulations – Rules and Guidance on Listing Matters – Guidance Letters – Guidance Letters for Listed Issuers" section of the HKEx website.

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