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

(As at 28 March 2013)

					Main Board	GEM	Total
New Applications Accepted
	a.		March 2013
			(i)	Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules	7	4	11
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	6	N/A	6
			(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)	1 __________	0 __________	1 ________
			Sub-total		17	4	21
	b.		2013 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	22	5	27
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	7	N/A	7
			(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 ________
			Sub-total		35	5	40
Approvals in principle granted⁽¹⁾
	a.	March 2013			6	1	7
	b.	2013 Year-to-date			10^#	3	13
Active applications⁽¹⁾ (as at 28 March 2013)
1.	Under processing (based on listing application form accepted):
	a.	New applications accepted since 1 January 2013			30	5	35
	b.	Others			17 __________	13 __________	30 ________
		Sub-total			47	18	65
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2013			7	2	9
	b.	Others			2 __________	0 __________	2 _________
Total					56	20	76

Inactive applications⁽²⁾ (since 1 January 2013)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed		7	3	10
	b.	Others		10	9	19
2.	Rejected			2	0	2
3.	Withdrawn			0 __________	0 __________	0 _________
	Sub-total			19	12	31
4.	Renewals⁽³⁾			(7) __________	(7) __________	(14) _________
Total				12	5	17
No. of new listings(since 1 January 2013)
		(i)	Companies listed pursuant to Chapter 8 of the Main Board Listing Rules/ Chapter 11 of the GEM Listing Rules	10	1	11
		(ii)	Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules	0	N/A	0
		(iii)	Transfer of listing from GEM to Main Board	0	N/A	0
		(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 __________	1 __________	1 ________
Total				10	2	12

First Comment Letters Issued⁽⁴⁾
	a.	March 2013	13
	b.	Average number of days taken between the date of application and the date of issue of related first comment letter	14

Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
	a.	March 2013	13
	b.	Average number of days taken between the date of request for guidance and the date of issue of written response⁽⁵⁾	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, 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 14 and the average number of days taken is 14.
⁽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".
^#	An approval granted to an application in February 2013 was subsequently overturned in March 2013.

Delisting and Suspension Information
(As at 28 March 2013)

				Main Board	GEM	Total
(a)	Number of delisted companies (since 1 January 2013)
	a.	Withdrawal of listing pursuant to privatisation		0	0	0
	b.	Transfer of listing from GEM to Main Board		N/A	0	0
	c.	Cancellation of listing pursuant to delisting procedures under the Listing Rules		0	1	1
	d.	Voluntary withdrawal of listing		0 __________	0 __________	0 __________
Total				0	1	1
(b)	Number of companies in suspension for three months or more (as at 28 March 2013)
	a.	Companies not in delisting procedures		24	4	28
	b.	a)	Main Board companies in delisting procedures:

			- first stage of delisting⁽⁶⁾	1	N/A	1
			- second stage of delisting⁽⁷⁾	1	N/A	1
			- third stage of delisting⁽⁷⁾	5	N/A	5
		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		2**	0	2**
	f.	Resumption proposal approved in principle by the Exchange subject to fulfillment of conditions		5 __________	1 __________	6 __________
Total				39	7	46

Other Information
(As at 28 March 2013)

		Main Board	GEM	Total
(c)	Number of listed companies (as at 28 March 2013)	1,378	179	1,557

⁽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. The Listing (Review) Committee resolved to set aside the cancellation of the company’s listing to enable the Listing Committee to consider the company’s revised resumption proposal.

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