Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

HKEx: Report On Initial Public Offering Applications, Delisting And Suspensions (As At 28 November 2014)

Date 28/11/2014

As at 28 November 2014

 

Main Board

GEM

Total

New Applications Accepted(1)    

 

 

 

 

a. 

November 2014

     
    (i)

Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules

3

2

5

    (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
 
 

1

N/A

1

    (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



________

Total

5

2

7

 


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

114

36

150

    (ii)

Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules

15

N/A

15

    (iii)

Application(s) for transfer of listing from GEM to Main Board 
 
 

12

N/A

12

    (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)   

5

 

_________

0

 

_________

5

 

_________

Total

146

36

182

  

Approvals in principle granted(2)

     
 

a.

November 2014

15

2

17

 

b.

2014 Year-to-date

113

14

127

  

Active applications(2)  (as at 28 November 2014)

     
1.

Under processing(1):

     
  a.

New applications accepted since 1 January 2014

38

16

54

  b.

Others

0
_________

2
_________

2
_________

   

Sub-total

38

18

56


2.


Approval in principle granted 

     
  a.

Approvals granted since 1 January 2014

19

2

21

  b.

Others

0
_________

0
_________

0
_________

Total

57

20

77

 

 

 

 



Inactive applications(3) (since 1 January 2014)

     

1.

Lapsed

     
  a.

Approval in principle granted but not listed prior to application lapsed

19

0

19

  b.

Others

22

14

36

2.

Rejected

6

6

12

3.

Withdrawn

4

2

6

4.

Returned(4)

3
_________

1
_________

4
_________

 

Sub-total

54

23

77

 

Offset by:

     
5. Renewals(5)
 

(22)

(7)

(29)

6.

Returned cases resubmitted(1)(6)

(0)
_________

(2)
_________

(2)
_________

Total

32

14

46

  

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 

82

16

98

    (ii)

Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules 

12

N/A

12

    (iii)

Transfer of listing from GEM to Main Board  

7

N/A

7

    (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

101

16

117

 

 

 

 

 

First Comment Letters Issued(7)

 

  a.

 November 2014

7

  b. Average number of days taken between the date of application and the date of issue of related first comment letter

11

        

Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules

 
  a. November 2014
 

11

  b.

Average number of days taken between the date of request for guidance and the date of issue of written response(8)

5

 

 

 

(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 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 11.

(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 28 November 2014)

 

 

 

Main Board

GEM

Total

(a)

Number of delisted companies (since 1 January 2014)

 

   
  a.

Withdrawal of listing pursuant to privatisation

2

0

2

  b.

Transfer of listing from GEM to Main Board 

N/A

7

7

  c.

Cancellation of listing pursuant to delisting procedures under the Listing Rules

0

0

0

  d.

Voluntary withdrawal of listing

4
_________

0
_________

4
_________

Total

6

7

13

  

(b)

  

Number of companies in suspension for three months or more
(as at 28 November 2014) 
 

     
  a.

Companies not in delisting procedures

31

5

36

  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)
 
  

2

N/A

2

  c.

GEM companies given 6 months' notice for delisting 

N/A

3

3

  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
 
_________

0

_________

2

_________

Total

38

8

46

 

 

 

Other Information
(As at 28 November 2014)

 

 

 

Main Board

GEM

Total

(c)

Number of listed companies (as at 28 November 2014)
 

1,534

201

1,735

 

(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.

   
* The company applied to the Exchange to appeal the delisting decision.  The appeal procedure is in progress.
 
 
 
This report is updated on the last trading day of each month.