HKEx Report On Initial Public Offering Applications, Delisting And Suspensions

					Main Board	GEM	Total
New Applications Accepted
	a.		November 2012
			(i)	Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules	4	3	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	2	N/A	2
			(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		6	3	9
	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	77	32	109
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	16	N/A	16
			(iii)	Application(s) for transfer of listing from GEM to Main Board	9	N/A	9
			(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 __________	1 __________	1 ________
			Sub-total		102	33	135
Approvals in principle granted⁽¹⁾
	a.	November 2012			10	1	11
	b.	2012 Year-to-date			67	12	79
Active applications⁽¹⁾ (as at 30 November 2012)
1.	Under processing (based on listing application form accepted):
	a.	New applications accepted since 1 January 2012			34	23	57
	b.	Others			1 __________	1 __________	2 ________
		Sub-total			35	24	59
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2012			16	3	19
	b.	Others			0 __________	0 __________	0 _________
Total					51	27	78

Inactive applications⁽²⁾ (since 1 January 2012)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed		42	5	47
	b.	Others		55	26	81
2.	Rejected			5	3	8
3.	Withdrawn			8 __________	2 __________	10 _________
	Sub-total			110	36	146
4.	Renewals⁽³⁾			(48) __________	(19) __________	(67) _________
Total				62	17	79
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	44	11	55
		(ii)	Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules	35	N/A	35
		(iii)	Transfer of listing from GEM to Main Board	2	N/A	2
		(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)	1 __________	0 __________	1 ________
Total				82	11	93

First Comment Letters Issued⁽⁴⁾
	a.	November 2012	9
	b.	Average number of days taken between the date of application and the date of issue of related first comment letter	15

Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
	a.	November 2012	8
	b.	Average number of days taken between the date of request for guidance and the date of issue of written response⁽⁵⁾	8

⁽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 Listing Division staff that contain the Listing Division's 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 ten and the average number of days taken is fourteen.
⁽⁵⁾	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 30 November 2012)

				Main Board	GEM	Total
(a)	Number of delisted companies (since 1 January 2012)
	a.	Withdrawal of listing pursuant to privatisation		8	0	8
	b.	Transfer of listing from GEM to Main Board		N/A	2	2
	c.	Cancellation of listing pursuant to delisting procedures under the Listing Rules		2	0	2
	d.	Voluntary withdrawal of listing		0 __________	1 __________	1 __________
Total				10	3	13
(b)	Number of companies in suspension for three months or more (as at 30 November 2012)
	a.	Companies not in delisting procedures		34	7	41
	b.	a)	Main Board companies in delisting procedures:

			- first stage of delisting⁽⁶⁾	0	N/A	0
			- second stage of delisting⁽⁷⁾	2	N/A	2
			- third stage of delisting⁽⁷⁾	4	N/A	4
		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		1*	0	1*
	e.	The resumption proposal was referred back to the Listing Committee		1**	0	1**
	f.	Resumption proposal approved in principle by the Exchange subject to fulfillment of conditions		2 __________	1 __________	3 __________
Total				44	10	54

Other Information
(As at 30 November 2012)

		Main Board	GEM	Total
(c)	Number of listed companies (as at 30 November 2012)	1,362	178	1,540

⁽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.
*	The company applied to the Exchange to review the delisting decision. The review procedures is in progress.
**	The Listing Appeals Committee decided to exercise its discretion to receive and consider the company’s new resumption proposal and refer the matter back to the Listing Committee. It also considered that the proposed transactions under the resumption proposal would constitute a reverse takeover.

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 30 November 2012