This article provides an overview of the specific requirements and procedures and positioning considerations in respect of the listing of shares on the Hong Kong Stock Exchange, and compares the different requirements of listing on the Main Board, GEM and specific listing channels (including Chapters 18A, 18B and 18C), to assist institutional investors understand the advantages and special features of the Hong Kong stock market, as well as the essentials for a successful listing.
JML202504111712 香港上市准备实务要点 - 私募与风投机构的关键考量Category: Licensed Corporations Alerts
Due Diligence Requirements for Corporate Finance Advisers
Corporate finance advisers in Hong Kong are required to comply with various due diligence requirements. The Securities and Futures Commission(“SFC”) issued the Corporate Finance Adviser Code of Conduct (“CF Code”) and the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (“Code of Conduct”), and the Stock Exchange of Hong Kong Limited (“HKEX”) issued the Rules Governing the Listing of Securities on The Stock Exchange Of Hong Kong Limited (“Main Board Listing Rules”) and the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (“GEM Listing Rules”, together with the Main Board Listing Rules, the “HKEX Listing Rules”). These requirements are aimed at ensuring that the advisers have conducted sufficient research and analysis to provide accurate and reliable advice to their clients. For example, corporate finance advisers are required to obtain detailed information about their clients and their business structure, ownership, and financial position, conduct industry research and financial analysis relating to client’s businesses and make sure the clients comply with all relevant regulations, including the Securities and Futures Ordinance, the Takeovers Code, and the HKEX Listing Rules.
The Monetary Authority of Singapore (“MAS”) recently issued the Notice on Business Conduct Requirements for Corporate Finance Advisers (“Notice”) on 23 February 2023. At the end of this article, we will compare the due diligence requirements set out in this notice with those of Hong Kong.
Due Diligence Requirements for Corporate Finance Advisers 2023040809Hong Kong Licensed Corporations Alert 2022/12/15
Hong Kong Licensed Corporations Alert 2021/09/17
- The Stock Exchange of Hong Kong Limited Launches Consultation on Hong Kong’s Special Purpose Acquisition Companies (SPAC) Regime Proposing a Minimum HK$1 Billion Initial Offering, Voting-related Redemption Restrictions and Specific Role of SPAC Licensed Promoter
- Updates on Hong Kong Securities and Futures Commission’s Anti-money Laundering and Counter-Financing of Terrorism Guidelines
- Management Experience Requirements for Responsible Officers and Related Transferability Issues in the Hong Kong Markets
- The Process of Regulation is Subject to Judicial Scrutiny in Open Court – Balancing Interests of Fund Investors and Public Interests in the Case of Christopher James Aarons v. Securities and Futures Commission, SFAT Application No.1 of 2021
Hong Kong Licensed Corporations Alert 2018/06/30
Hong Kong Licensed Corporations Alert 2018/02/28
