Background
On 19 November 2021, The Stock Exchange of Hong Kong Limited (the “Exchange”) published its consultation conclusions (the “Consultation Conclusions”) as to its proposal to enhance and streamline the listing regime for overseas issuers. The amended Rules Governing the Listing of Securities on the Exchange (the “Listing Rules”) and the new guidance materials become effective from 1 January 2022.
The said proposals received large support from the public. As such, the Exchange has concluded to adopt all the proposals outlined in its consultation paper on enhancing and streamlining the listing regime for overseas issuers on 31 March 2021 (the “Consultation Paper”) with minor modifications. This article follows up with our news update in April 2021 on the Exchange’s Consultation Paper. The capitalised terms used herein shall have the same meaning as defined in the Consultation Conclusions and Consultation Paper.
In summary, the revised listing regime will be based on the following: