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Listing Matters regarding Sponsor Regulation and Intermediaries Regulation

Consequential Rule changes to complement new Code of Conduct provisions relating to the conduct of intermediaries involved in bookbuilding and placing activities

The SFC published the “Consultation Conclusions on (i) the Proposed Code of Conduct on Bookbuilding and Placing Activities in Equity Capital Market and Debt Capital Market Transactions and (ii) the ‘Sponsor Coupling’ Proposal” on 29 October 2021, whereby the SFC concluded that the proposed new Code of Conduct provisions will come into effect on 5 August 2022.

The Exchange has introduced appropriate consequential changes to the Listing Rules to reflect the requirements on parties involved in bookbuilding, placing or other specified activities under the new Code of Conduct provisions and to set out the obligations of issuers primarily with a view to facilitating intermediaries’ discharge of their obligations under the new Code of Conduct provisions. The new requirements resulting from the Rule changes will apply to new applicants and listed issuers submitting or re-filing their listing applications on or after 5 August 2022.

•   News Release on 22 April 2022
•   Information Paper
•   Amendments to Main Board Listing Rules
•   Amendments to GEM Listing Rules
•   FAQ (Current version (last updated in May 2022); Marked-up version (issued in May 2022))

Consequential Rule changes to complement the new sponsor regulation

The SFC published the “Consultation Conclusions on the regulation of IPO Sponsors” on 12 December 2012 and the new sponsor regulation became effective on 1 October 2013. The Exchange has made appropriate changes to the Listing Rules and streamlined the listing vetting process to complement the new sponsor regulation, with a view to making the process more efficient, while maintaining the standards of companies to be listed on the Exchange.

Our “Rule Changes to Complement New Sponsor Regulation” corner aims to provide market practitioners with an overview of the changes to the Listing Rules, the required documents and the guidance on interpretations and procedures. The new requirements resulting from the rule changes apply to listing applications submitted on or after 1 October 2013.

For applications submitted before 1 October 2013, please refer to Rules and Guidance for applications submitted before 1 October 2013 

 

•   Announcement

•   News Release on 23 July 2013
•   News Release on 30 September 2013
•   News Release on 28 February 2014
•   News Release on 24 March 2014
•   News Release on 5 September 2014

•   Main Board Listing Rules
•   GEM Listing Rules
•   Amendments to Main Board Listing Rules
•   Amendments to GEM Listing Rules
•   Guidance Letters

•   Application Proof & PHIP

•   Main Board Listing Applicants
•   GEM Listing Applicants

•   FAQ
•   Seminars