HKEx Report On Initial Public Offering Applications, Delisting And Suspensions As At 31 May 2013

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 31 May 2013)

					Main Board	GEM	Total
New Applications Accepted
	a.		May 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	3	10
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	3	N/A	3
			(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)	1 __________	0 __________	1 ________
			Sub-total		13	3	16
	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	37	11	48
			(ii)	Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules	10	N/A	10
			(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)	2 __________	0 __________	2 ________
			Sub-total		57	11	68
Approvals in principle granted⁽¹⁾
	a.	May 2013			12	2	14
	b.	2013 Year-to-date			26	7	33
Active applications⁽¹⁾ (as at 31 May 2013)
1.	Under processing (based on listing application form accepted):
	a.	New applications accepted since 1 January 2013			39	11	50
	b.	Others			8 __________	8 __________	16 ________
		Sub-total			47	19	66
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2013			14	2	16
	b.	Others			3 __________	1 __________	4 _________
Total					64	22	86

Inactive applications⁽²⁾ (since 1 January 2013)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed		8	3	11
	b.	Others		21	17	38
2.	Rejected			2	0	2
3.	Withdrawn			0 __________	0 __________	0 _________
	Sub-total			31	20	51
4.	Renewals⁽³⁾			(14) __________	(15) __________	(29) _________
Total				17	5	22
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	13	5	18
		(ii)	Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules	6	N/A	6
		(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				19	6	25

First Comment Letters Issued⁽⁴⁾
	a.	May 2013	14
	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.	May 2013	9
	b.	Average number of days taken between the date of request for guidance and the date of issue of written response⁽⁵⁾	6

⁽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 15 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".

Delisting and Suspension Information
(As at 31 May 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		1	1	2
	d.	Voluntary withdrawal of listing		0 __________	0 __________	0 __________
Total				1	1	2
(b)	Number of companies in suspension for three months or more (as at 31 May 2013)
	a.	Companies not in delisting procedures		27	4	31
	b.	a)	Main Board companies in delisting procedures:

			- first stage of delisting⁽⁶⁾	2	N/A	2
			- second stage of delisting⁽⁷⁾	1	N/A	1
			- third stage of delisting⁽⁷⁾	3	N/A	3
		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		3 __________	1 __________	4 __________
Total				39	7	46

Other Information
(As at 31 May 2013)

		Main Board	GEM	Total
(c)	Number of listed companies (as at 31 May 2013)	1,380	183	1,563

⁽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 appeal the delisting decision. The appeal procedure 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.