Listing mineral companies
Long considered a financial gateway to China, more recently Hong Kong has emerged as a viable market for natural resource companies seeking to raise capital in Asia. Listing of mineral companies on the Hong Kong Stock Exchange Limited (“HKEx”) is governed by Chapter 18 of the HKEx’s Listing Rules which was introduced by the HKEx to encourage listings by overseas natural resources companies.
Chapter 18 of the HKEx’s Listing Rules (which includes a definition of “Mineral Companies” that incorporates petroleum companies) clarifies the process by which early stage Mineral Companies not yet in production might benefit from a waiver from the HKEx’s standard financial and track record tests. The HKEx has made clear its aim to develop Hong Kong into an international hub for natural resource companies. It is expected that an increased concentration of listed natural resource companies will lead to increased investor awareness and knowledge about the natural resource sector which in-turn will gradually enhance Hong Kong’s reputation as a natural resources market.
Charltons advises listed issuers and prospective listing applicants on:-
- requirements relating to management
- requirements relating to resources and reserves
- requirements relating to control over mining assets
- restructuring and holding structures
- connected transactions
- asset “spin-offs”
- pre-IPO submissions on suitability for listing
- publicity requirements during listing process
- on-going announcement requirements for listed companies
For further information about Charltons’natural resources practice , experience and transaction highlights please visit our dedicated natural resources law website www.charltonsnaturalresources.com