New Listing Rules on Backdoor Listings Effective 1 October
The Stock Exchange of Hong Kong Limited (Hong Kong Stock Exchange or HKEx) published its Consultation Conclusions on Proposed Rule Changes Associated with Backdoor Listing, Continuing Listing Criteria and other Rule Amendments on 26 July 2019 setting out changes to the HKEx Listing Rules on reverse takeovers (i.e. backdoor listings) and the criteria for continued listing which are aimed at preventing the listing and continued listing of “shell companies” which may become vehicles for backdoor listings. The revised Listing Rules take effect on 1 October 2019. Read More…