Hong Kong Law
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Listed Companies Disclosure Obligations HKEx Issues Reminder and Guidance
The Hong Kong Stock Exchange (the Exchange) has issued a letter to all issuers listed on the Main Board and Growth Enterprises Market (GEM) reminding them of their obligation to make timely public disclosure of…
No Change to General Offer Trigger Point and Creeper under Takeovers Code Guidelines for the Exemption of Listed Corporations from Part Xv of the SFO Amended to Facilitate Exchange-Traded Funds
The Takeovers Panel met recently to consider suggestions received by the Securities and Futures Commission (SFC) that, in light of current market conditions, the 30% general offer trigger point and the 2% creeper…
New Growth Enterprise Market Rules Come into Effect
Hong Kong Exchanges and Clearing Limited (HKEx) published its Consultation Conclusions on the Growth Enterprise Market (GEM) on 2 May 2008 which set out the amendments to the GEM Listing Rules which will be…
Hong Kong Depositary Receipt Framework to be Implemented
On 9 May 2008, the Stock Exchange of Hong Kong (the Exchange) published a new Chapter 19B to the Main Board Listing Rules which will allow issuers to list on the Main Board (but not the Growth Enterprise Market)…
HKEx Publishes Combined Consultation Paper on Amendments to the Listing Rules
The Hong Kong Stock Exchange (the Exchange) published its Combined Consultation Paper on Proposed Changes to the Listing Rules (the Consultation Paper) on 11 January seeking comments from the market on 18 substantive…
HKExs Revised Suspension Policy
From 10 March 2008, trading in a Main Board issuer’s listed securities will no longer be suspended if the issuer publishes an announcement containing price sensitive information (PSI) between 6.00 a.m. and 9.00…
SFC Proposes to Mandate Electronic Submission of Disclosure of Interests Notices and Licensed Corporations Financial Returns HKEx Signs Mou With Hochiminh and Mongolia Stock Exchanges
The SFC has recently published two consultation papers setting out its proposals to: make electronic submission of Disclosure of Interests (DI) notices under Part XV of the Securities and Futures Ordinance mandatory…
Amendments to the Companies Ordinance Relating to Non-Hong Kong Companies
The amendments made by the Companies (Amendment) Ordinance 2004 to the provisions of the Companies Ordinance relating to overseas companies will come into effect on 14 December, 2007. The principal changes include…
Pilot Scheme Requiring the Early Posting of a Near Final Draft IPO Prospectus on the HKEx Website to Commence January 2008
The Stock Exchange of Hong Kong Limited (the Exchange) and the Securities and Futures Commission (SFC) published a Joint Policy Statement on 5 November 2007, announcing that they are launching a pilot scheme…
Listing Decisions on pre-IPO Convertible Bond Issues
Hong Kong Exchanges and Clearing Limited (HKEx) has published Series 59 of the listing decisions dealing with pre-IPO issues of convertible bonds. The decisions considered whether various terms, including…
SFC Publishes Guidance on Takeovers Code
The Securities and Finance Commission of Hong Kong (the SFC) has launched a series of newsletters aimed at providing guidance and interpretation on matters relating to takeovers in Hong Kong. The first Takeovers…
SFC Publishes Consultation Paper on Proposed Amendments to the Codes on Takeovers and Mergers and Share Repurchases
The Securities and Futures Commission (SFC) released a consultation paper (the Consultation Paper) on proposed amendments to the Codes on Takeovers and Mergers and Share Repurchases (the Codes) on 19 September 2007.