IPO

Sponsors Still Taking the Rap for Listing Fraud

Sponsors Still Taking the Rap for Listing Fraud 1400 788 Greg Heaton
When listing frauds unravel, regulators usually focus on finding fault with the sponsors. Sponsors face significant regulatory risks for limited financial gain.

How Sponsors Became Gatekeepers of HKEX

How Sponsors Became Gatekeepers of HKEX 1400 787 Greg Heaton
Thirty years ago, Tsingtao Brewery became the first mainland Chinese company to list on HKEX. Over 1400 others followed, scams included.
shell

Hong Kong SPACs’ Bedazzling Debut – Act II

Hong Kong SPACs’ Bedazzling Debut – Act II 1400 787 Greg Heaton
While a honeypot to some celebrities, tycoons and their professional advisors, SPACs have by and large been disastrous for everybody else.

Hong Kong SPACs’ Bedazzling Debut – Act I

Hong Kong SPACs’ Bedazzling Debut – Act I 1400 788 Greg Heaton
Hong Kong historically discouraged shell manufacturing and backdoor listings. It has now formalized these practices with the introduction of a SPAC regime.

Exchange Published Conclusions on Review of Corporate Governance Code

Exchange Published Conclusions on Review of Corporate Governance Code 1920 1080 Hauzen LLP
Amended Listing Rules and CG Code came into effect on 1 Jan 2022, and will apply to CG reports for financial year commencing on or after 1 Jan 2021.

HKEx Guidance Materials on Paperless Listing & Subscription Regime, Online Display of Documents & Reduction of Types of Documents on Display

HKEx Guidance Materials on Paperless Listing & Subscription Regime, Online Display of Documents & Reduction of Types of Documents on Display 1920 1080 Hauzen LLP
On 23 September 2021, HKEx published guidance materials on Listing Rule amendments adopted in the Consultation Conclusions on Paperless Listing & Subscription Regime, Online Display of Documents and Reduction of the Types of Documents on Display.

HKEx Consultation Paper on Special Purpose Acquisition Companies

HKEx Consultation Paper on Special Purpose Acquisition Companies 1920 1080 Hauzen LLP
On 17 September 2021, the Stock Exchange of Hong Kong Limited published a consultation paper seeking market feedback on proposals to create a listing regime for special purpose acquisition companies in Hong Kong.

Joint statement on IPO-related misconduct

Joint statement on IPO-related misconduct 1920 1080 Hauzen LLP
On 20 May 2021, SFC and HKEx issued a joint statement setting out the general approach taken by them to address regulatory issues formed in recent new listings.  The statement described how the regulators would deploy their respective powers under the SFO, the SMLR and the Listing Rules to tackle issues that mainly involved suspected arrangements to artificially satisfy the initial listing requirements, or facilitate market manipulation of the shares after the IPO.

HKEx Consultation Conclusions on the Main Board Profit Requirement

HKEx Consultation Conclusions on the Main Board Profit Requirement 1401 789 Hauzen LLP
On 20 May 2021, the Stock Exchange of Hong Kong Limited published conclusions to its consultations on the Main Board Profit Requirement.
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