HKEx Publishes Guide On Pre-Vetting Requirements For Announcements

The Hong Kong Stock Exchange (HKEx) has recently published its Guide on pre-vetting requirements for announcements (Guide) to assist listed issuers in meeting certain continuing obligations under the Listing Rules.

Conveniently set out in a table, the Guide lists matters and transactions which require the making of announcements and identifies whether they require pre-vetting under the Listing Rules. It also provides cross-references to the relevant listing rule requirements where appropriate.

The Guide can be viewed by clicking here.

For announcements of matters and/or transactions that are not strictly subject to pre-vetting requirements under the Listing Rules, the Listing Division may still request to review and comment on the relevant announcements. HKEx has specified three typical scenarios where this may occur:

1. the announcement is made in relation to enquiries and concerns about compliance with applicable laws and regulations or the Listing Rules; or

2. the announcement involves unusual or novel issues; or

3. listed issuer is seeking guidance from the Exchange on, or making a request for modification or dispensation with, certain Listing Rules.

Where the Listing Division decides to review a listed issuer’s announcement, it will communicate such intentions to the issuer and state reasons for its decision.

In the event of any discrepancies between the contents of the Guide and the Listing Rules, as amended or interpreted from time to time, the provisions of the Listing Rules prevail.

This note contains a summary only of recent regulatory developments in Hong Kong. Specific advice should be sought in relation to any particular situation.