On 24 March 2023, The Stock Exchange of Hong Kong Limited (the “Exchange”) published the consultation conclusions (the “Conclusions”) on the new listing framework for Specialist Technology Companies (“STCs”). The Conclusions were issued in response to the two-month consultation (the “Consultation”) in respect of the consultation paper (the “Consultation Paper”) published by the Exchange on 19 October 2022 (see our news update on the Consultation).
The new listing regime will be added as Chapter 18C of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”), and the corresponding amendments, together with the Guidance Letter on Specialist Technology Companies (the “Guidance Letter”) will come into effect on 31 March 2023. Commencing on the same day, companies may submit a formal application for listing under the new regime.
The Exchange will implement the proposals as set out in the Consultation Paper, subject to certain amendments. Set out below are the key features of the new listing regime.