HKEX : Report On Initial Public Offering Applications, Delisting And Suspensions

Report on Initial Public Offering Applications, Delisting and Suspensions (As at 31 July 2017)

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 31 July 2017)

					Main Board	GEM	Total
New Applications Accepted
	a.		July 2017
			(i)	Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules	22	22	44
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	1	N/A	1
			(iii)	Application(s) for transfer of listing from GEM to Main Board	5	N/A	5
			(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)	1 ________	0 ________	1 ________
Total					29	22	51
	b.		2017 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	81	80	161
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	20	N/A	20
			(iii)	Application(s) for transfer of listing from GEM to Main Board	17	N/A	17
			(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)	7 _________	0 _________	7 _________
Total					125	80	205
Approvals in principle granted⁽¹⁾
	a.	July 2017			2	0	2
	b.	2017 Year-to-date			63	43	106
Active applications⁽¹⁾ (as at 31 July 2017)
1.	Under processing
	a.	New applications accepted since 1 January 2017			92	68	160
	b.	Others			9 _________	11 _________	20 _________
		Sub-total			101	79	180
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2017			3	2	5
	b.	Others			0 _________	0 _________	0 _________
Total					104	81	185

Inactive applications⁽²⁾ (since 1 January 2017)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed		7	8	15
	b.	Others		35	42	77
2.	Rejected			1	3	4
3.	Withdrawn			3	6	9
4.	Returned⁽³⁾			1 _________	0 _________	1 _________
	Total			47	59	106

5.	Renewals⁽⁴⁾			39	43	82
6.	Returned cases resubmitted⁽⁵⁾			0 _________	3 _________	3 _________
	Total			39	46	85
No. of new listings(since 1 January 2017)
		(i)	Companies listed pursuant to Chapter 8 of the Main Board Listing Rules/ Chapter 11 of the GEM Listing Rules	44	51	95
		(ii)	Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules	18	N/A	18
		(iii)	Transfer of listing from GEM to Main Board	6	N/A	6
		(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				68	51	119

First Comment Letters Issued⁽⁶⁾
	a.	July 2017	33
	b.	Average number of days taken between the date of application and the date of issue of related first comment letter	21

Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
	a.	July 2017	13
	b.	Average number of days taken between the date of request for guidance and the date of issue of written response⁽⁷⁾	9

⁽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⁾	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. If included, the number of first comment letters issued is 36 and the average number of days taken is 21.
⁽⁷⁾	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 31 July 2017)

			Main Board	GEM	Total
(a)	Number of delisted companies (since 1 January 2017)
	a.	Withdrawal of listing pursuant to privatisation	3	0	3
	b.	Transfer of listing from GEM to Main Board	N/A	6	6
	c.	Cancellation of listing pursuant to delisting procedures under the Listing Rules	1	2	3
	d.	Voluntary withdrawal of listing	1 _________	1 _________	2 _________
Total			5	9	14
(b)	Number of companies in suspension for three months or more (as at 31 July 2017)
	a.	Companies not in delisting procedures	31	0	31
	b.	Main Board companies in delisting procedures:
		- first stage of delisting⁽⁸⁾	4	N/A	4
		- second stage of delisting⁽⁹⁾	3	N/A	3
		- third stage of delisting⁽⁹⁾	13	N/A	13
	c.	GEM companies given 6 months' notice for delisting	N/A	2	2
	d.	Delisting approved by the Listing Committee	3*	0	3
	e.	Resumption proposals approved in principle by the Exchange subject to fulfillment of conditions	1 _________	0 _________	1 _________
Total			55	2	57

Other Information
(As at 31 July 2017)

			Main Board	GEM	Total
(c)	Number of listed companies (as at 31 July 2017)		1,758	302	2,060

⁽⁸⁾	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.
⁽⁹⁾	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.

*	The companies 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.

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HKEX : Report On Initial Public Offering Applications, Delisting And Suspensions - As At 31 July 2017