In September 2018, Hong Kong regained its leading position as the world’s top IPO market, raising HK$242.7 billion in the first three quarters of 2018. Hong Kong was followed by NYSE, NSADAQ and the Shanghai Stock Exchange. Read More
The Hong Kong Stock Exchange has tightened the Listing Rules on capital raising activities by listed issuers which create unfairness to minority shareholders that the HKEX views as negatively affecting the market. Targets in particular are large scale deeply discounted capital raising activities, with rights issues, open offers and specific mandate placings that result in […]
The HKEX listed company delisting process was accelerated from August 2018 to deal with angst over long suspensions of listed companies. A fixed period delisting criterion now applies to delist companies failing to sort out the issues that led to their suspensions within a prescribed fixed period of continuous suspension. From now on, the HKEX […]
On 21 September 2018, the Securities and Futures Commission (SFC) published its strategic framework for developing Hong Kong green finance. Building on Hong Kong’s green bond initiatives, the SFC is keen to develop green finance opportunities arising from Mainland China’s transitioning to a green economy and to position Hong Kong as a connector of green […]
The Hong Kong SFC fined Citigroup Global Markets Asia Limited HK$57 million in 2018 for failings in sponsor work on the listing of Real Gold Mining Limited. Read More
The SFC issued standards of good practice for Hong Kong sponsors to the market in 2018. Read More
HKEX Listing Rules changes in early 2018 saw the hiking of market cap and public float requirements for HKEX Main Board and GEM listings. Hong Kong’s second board, GEM was “repositioned” as a standalone market for small and mid-sized companies, with GEM no longer being a stepping stone to the Main Board. Read More
Amendments to the Hong Kong Listing Rules, effective February 2018, increase both the market capitalisation and public float requirements for Main Board and GEM listings and increase the cash flow requirement for GEM applicants. The amendments also reposition GEM as a standalone market for small and mid-sized companies, with GEM no longer being a stepping […]
The Hong Kong Stock Exchange (the Exchange) is consulting the public on proposed changes to the process and structure for reviewing decisions of the Exchange’s Listing Committee.Read More… Hong Kong Law Newsletter | Chartlons
Introduction The Securities and Futures Commission (the SFC) published a consultation paper on 17 August 2018, proposing additional guidelines on risk management practices for securities margin financing (SMF) activities (the Consultation Paper). The cut-off date for responding to the consultation is 18 October.Read More… Hong Kong Law Newsletter | Chartlons
Thanks to LexisNexis for inviting me to speak on GDPR at the GDPR conference yesterday in Hong Kong – Dominic Wai
United States (US) People’s Republic of China (PRC) South Korea Japan Singapore Gibraltar Russia Belarus Australia United Kingdom Hong Kong and Crypto currencies Hong Kong Regulation of Securities Introduction In Hong Kong, as elsewhere, cryptocurrencies, blockchain – the technology which underlies them, and initial coin or token offerings (ICOs), are changing just about everything, from […]