This quarterly update (July to September 2013) highlights recent developments in Hong Kong capital markets practices:

Topical Issue

  • New IPO Sponsor Regulatory Regime – effective on 1 October 2013
  • Reasons for returning listing applications – listing decision

Procedures and Waivers

  • Pre-conditions for waiver – minerals companies – unable to satisfy the profit test, market capitalisation/revenue/cash flow test or market capitalisation/revenue test

Disclosure Requirements and Guidance

  • Pre-IPO investments – additional guidance – disclosure requirements – consequences of not complying with the relevant guidance
  • PRC/Hong Kong land and properties – Title Certificates and disclosure requirements
  • Simplification series – White and Yellow Application Forms (AFs) – the “How to Apply for Hong Kong Offer Shares” section in a prospectus (HTA)
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