News Updates

Find out all about our firm’s latest news updates below. To learn more about any individual item, please contact us here.

2 Jun 2021

THE HONG KONG STOCK EXCHANGE PUBLISHED THE CONSULTATION CONCLUSIONS ON THE MAIN BOARD PROFIT REQUIREMENT

Background

Following the consultation paper (the “Consultation Paper”) published by the The Stock Exchange of Hong Kong Limited (the “Exchange”) in November 2020 on the proposed increase in the Main Board profit requirement (the “Profit Requirement”), the Exchange published the highly anticipated Consultation Conclusion on “The Main Board Profit Requirement” (the “Consultation Conclusions”) on 20 May 2021.

26 May 2021

THE SFC LAUNCHED ITS PLAN TO IMPLEMENT THE GOVERNMENT’S GRANT SCHEME FOR OPEN-ENDED FUND COMPANIES (OFCS) AND REAL ESTATE INVESTMENT TRUSTS (REITS)

Background

On 10 May 2021, The Securities and Futures Commission of Hong Kong (the “SFC”) announced the implementation of the Hong Kong Government’s grant scheme (the “Grant Scheme”) to provide subsidies for setting up qualified open-ended fund companies (the “OFCs”) and real estate investment trusts (the “REITs”) in Hong Kong.  The Grant Scheme covers 70% of eligible expenses paid to Hong Kong-based service providers, subject to a cap of HK$1 million per OFC and HK$8 million per REIT.

18 May 2021

Adamas, or a House of Cards?

On 1 January 2021, a tabloid reported the suicide of a 55-year-old American man, found inside a private car in Sai Kung. This was hardly sensational and would have easily gone unnoticed – except perhaps by the princes and barons of the financial sectors.

14 May 2021

THE SGX PUBLISHED A CONSULTATION PAPER ON THE PROPOSED LISTING FRAMEWORK FOR SPECIAL PURPOSE ACQUISITION COMPANIES

Background

On 31 March 2021, the Singapore Exchange Regulation (the “SGX”) published a consultation paper on the proposed listing framework (the “Proposed Framework”) for special purpose acquisition companies (the “SPACs”) and invited comments by 28 April 2021.  The Proposed Framework proposed to introduce a regime for SPACs in Singapore to list on the Mainboard of Singapore Exchange Securities Trading Limited (“SGX-ST”).  According to the SGX, the Proposed Framework was in light of various developments including the market development in United States SPACs listings in recent years and potential merger and acquisition opportunities in the Asia Pacific region.

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