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Capital Markets Quarterly Update (January to March 2014)

11 June 2014
Mayer Brown JSM Newsletter

This quarterly update (January to March 2014) highlights recent developments in Hong Kong capital markets practices:

EQUITY CAPITAL MARKET

TOPICAL ISSUE

  • Return of listing applications — reasons

PROCEDURES AND WAIVERS

  • Documentation and administrative matters — listing applicants — updated guidance

DISCLOSURE REQUIREMENTS AND GUIDANCE

  • Initial 3-day check — material deficiencies — return of Application Proof
  • Application Proof and PHIP — publication on HKEx’s website — updated guidelines on recommended redactions
  • Simplification Series — the “Industry Overview” section in listing documents
  • Simplification Series — the “Applicable Laws and Regulations” section in listing documents
  • Simplification series — the “Summary and Highlights” section in listing documents
  • Disclosure in listing documents — indebtedness, liquidity, financial resources and capital structure — sponsor’s confirmation on working capital sufficiency statement
  • Disclosure in prospectus — material adverse changes in financial, operational and/ or trading position after the trading record period
  • Disclosure in listing documents — “Directors, Supervisors and Senior Management” section
  • Guidance — accounting and disclosure requirements for acquisitions of subsidiaries and businesses
  • Application Proof — requirement for disclosure of financial information for the trading record period
  • HKEx’s suggestion — internal controls on hedging activities

LISTING SUITABILITY AND OTHER LISTING DECISIONS

  • Guidance — gambling activities — whether it is suitable for listing

DEBT CAPITAL MARKET

  • Consent fees — debt restructurings

Authors

  • Jeckle Chiu
    T +852 2843 2245

Related People

  • Billy K. M. Au
    T +852 2843 2254
  • Jason T. Elder
    Partner, Registered Foreign Consultant (New York, USA)
    T +852 2843 2394
  • James M. Fong
    T +852 2843 2299
  • Jacqueline S. T. Chiu
    T +852 2843 2447
  • Derek Y. W. Tsang
    T +852 2843 2591
  • Mark Uhrynuk
    T +852 2843 4307
  • Chester C. C. Wong
    T +852 2843 4273

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