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

DISCLOSURE REQUIREMENTS AND GUIDANCE

  • Revised guidance – accounting and disclosure requirements - acquisitions of subsidiaries and businesses – stub period comparatives
  • Voluntary inclusion of unaudited financial information of the companies acquired after the track record period – allowed

PROCEDURES AND WAIVERS

  • Revised guidance – confirmations required on the accountants’ report, pro forma financial information and profit forecast in Application Proofs
  • Placing of shares by lead brokers – to connected clients holding on behalf of independent third parties – consent requirements
  • CIS applications – guidance on documentary requirements and administrative matters
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