The Stock Exchange of Hong Kong Limited ("the Exchange") recently published two separate consultation papers on (i) Capital Raisings by Listed Issuers, and (ii) Delisting and other Rule Amendments, proposing changes to the Exchange's Listing Rules, amongst which includes prohibition of capital raisings that would result in a material value dilution of 25% or more; imposition of mandatory minority shareholders' approval for open offers; removal of the mandatory underwriting requirement and the connected transaction exemption available to connected persons acting as underwriters for all rights issues and open offers; and automatic delisting for issuer whose shares dealing has been suspended continuously for a prescribed period.