HKEx Report On Initial Public Offering Applications, Delisting And Suspensions

					Main Board	GEM	Total
New Applications Accepted
	a.		March 2011
			(i)	Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/ Chapter 11 of the GEM Listing Rules	24	6	30
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	4	N/A	4
			(iii)	Application(s) for transfer of listing from GEM to Main Board	3	N/A	3
			(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		31	6	37
	b.		2011 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	49	9	58
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	4	N/A	4
			(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)	0 __________	0 __________	0 ________
			Sub-total		58	9	67
Approvals in principle granted⁽¹⁾
	a.	March 2011			13	0	13
	b.	2011 Year-to-date			20	1	21
Active applications⁽¹⁾ (as at 31 March 2011)
1.	Under processing (based on listing application form accepted):
	a.	New applications accepted since 1 January 2011			50	9	59
	b.	Others			17 __________	4 __________	21 ________
		Sub-total			67	13	80
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2011			15	0	15
	b.	Others			4 __________	1 __________	5 ________
Total					86	14	100

Inactive applications⁽²⁾ (since 1 January 2011)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed		9	1	10
	b.	Others		5	1	6
2.	Rejected			1	0	1
3.	Withdrawn			0 __________	0 __________	0 ________
	Sub-total			15	2	17
4.	Renewals⁽³⁾			(7) _________	(1) __________	(8) ________
Total				8	1	9
No. of new listings(since 1 January 2011)
		(i)	Companies listed pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules	9	3	12
		(ii)	Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules	4	N/A	4
		(iii)	Transfer of listing from GEM to Main Board	4	N/A	4
		(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		17	3	20

First Comment Letters Issued⁽⁴⁾
	a.	March 2011	18
	b.	Average number of days taken between the date of application and the date of issue of related first comment letter⁽⁵⁾	15

Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
	a.	March 2011	17
	b.	Average number of days taken between the date of request for guidance and the date of issue of written response⁽⁵⁾	7

⁽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 31 March 2011)

				Main Board	GEM	Total
(a)	Number of delisted companies (since 1 January 2011)
	a.	Withdrawal of listing pursuant to privatisation		0	0	0
	b.	Transfer of listing from GEM to Main Board		N/A	4	4
	c.	Cancellation of listing pursuant to delisting procedures under the Listing Rules		0	0	0
	d.	Voluntary withdrawal of listing		0 __________	0 __________	0 __________
Total				0	4	4
(b)	Number of companies in suspension for three months or more (as at 31 March 2011)
	a.	Companies not in delisting procedures		14	6	20
	b.	a)	Main Board companies in delisting procedures:

			- first stage of delisting⁽⁶⁾	4	N/A	4
			- second stage of delisting⁽⁷⁾	4	N/A	4
			- third stage of delisting⁽⁷⁾	12	N/A	12
		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.	Resumption proposal approved in principle by the Exchange subject to fulfillment of conditions		2 __________	1 __________	3 __________
Total				37	9	46

Other Information
(As at 31 March 2011)

		Main Board	GEM	Total
(c)	Number of listed companies (as at 31 March 2011)	1,258	168	1,426

⁽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 are in progress.

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

FTSE Mondo Visione Exchanges Index:

HKEx Report On Initial Public Offering Applications, Delisting And Suspensions - As At 31 March 2011