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

(As at 30 June 2014)

					Main Board	GEM	Total
New Applications Accepted⁽¹⁾
	a.		June 2014
			(i)	Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules	7	2	9
			(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		9	2	11
	b.		2014 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	64	19	83
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	9	N/A	9
			(iii)	Application(s) for transfer of listing from GEM to Main Board	8	N/A	8
			(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		82	19	101
Approvals in principle granted⁽²⁾
	a.	June 2014			22	4	26
	b.	2014 Year-to-date			73	7	80
Active applications⁽²⁾ (as at 30 June 2014)
1.	Under processing⁽¹⁾:
	a.	New applications accepted since 1 January 2014			23	11	34
	b.	Others			1 __________	1 __________	2 ________
		Sub-total			24	12	36
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2014			29	5	34
	b.	Others			0 __________	0 __________	0 _________
Total					53	17	70

Inactive applications⁽³⁾ (since 1 January 2014)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed		10	0	10
	b.	Others		16	7	23
2.	Rejected			3	4	7
3.	Withdrawn			1	2	3
4.	Returned⁽⁴⁾			2 __________	1 __________	3 __________
	Sub-total			32	14	46
	Offset by:
5.	Renewals⁽⁵⁾			(13)	(2)	(15)
6.	Returned cases resubmitted⁽¹⁾⁽⁶⁾			(0) __________	(2) __________	(2) _________
Total				19	10	29
No. of new listings(since 1 January 2014)
		(i)	Companies listed pursuant to Chapter 8 of the Main Board Listing Rules/ Chapter 11 of the GEM Listing Rules	42	6	48
		(ii)	Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules	8	N/A	8
		(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				54	6	60

First Comment Letters Issued⁽⁷⁾
	a.	June 2014	7
	b.	Average number of days taken between the date of application and the date of issue of related first comment letter	10

Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
	a.	June 2014	14
	b.	Average number of days taken between the date of request for guidance and the date of issue of written response⁽⁸⁾	8

⁽¹⁾	These are applications accepted for vetting after the initial 3-day check of the Application Proof according to a prescribed 3-day checklist, where applicable.
⁽²⁾	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).
⁽³⁾	Includes any application (or renewal) not approved, returned, rejected or withdrawn within six months from date of application.
⁽⁴⁾	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.
⁽⁵⁾	Includes all applications accepted within three months following a lapsed, rejected or withdrawn application by the same applicant.
⁽⁶⁾	Applications resubmitted to the Exchange after an 8-week moratorium from the date of the return letter.
⁽⁷⁾	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 8 and the average number of days taken is 10.
⁽⁸⁾	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 June 2014)

			Main Board	GEM	Total
(a)	Number of delisted companies (since 1 January 2014)
	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	2 __________	0 __________	2 __________
Total			2	4	6
(b)	Number of companies in suspension for three months or more (as at 30 June 2014)
	a.	Companies not in delisting procedures	27	5	32
	b.	Main Board companies in delisting procedures:
		- first stage of delisting⁽⁹⁾	1	N/A	1
		- second stage of delisting⁽¹⁰⁾	1	N/A	1
		- third stage of delisting⁽¹⁰⁾	1	N/A	1
	c.	GEM companies given 6 months' notice for delisting	N/A	2	2
	d.	Delisting approved by the Listing Committee	2*	0	2*
	e.	Resumption proposal approved in principle by the Exchange subject to fulfillment of conditions	2 ___________	0 ___________	2 ___________
Total			34	7	41

Other Information
(As at 30 June 2014)

		Main Board	GEM	Total
(c)	Number of listed companies (as at 30 June 2014)	1,495	194	1,689

⁽⁹⁾	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.
⁽¹⁰⁾	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.

* One company applied to the Exchange to review the delisting decision. The review procedure is in progress.

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