Report on Initial Public Offering Applications, Delisting and Suspensions (As at 31 August 2022)

First Comment Letters Issued⁽⁷⁾

August 2022

Average number of days taken between the date of application and the date of issue of related first comment letter

Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules

August 2022

Average number of days taken between the date of request for guidance and the date of issue of written response⁽⁸⁾

Market Operations

31 Aug 2022

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 31 August 2022)

				Main Board	GEM	Total
New Applications Accepted⁽¹⁾
	a.		August 2022	6	0	6
	b.		2022 Year-to-date	145	3	148
Approvals in principle granted⁽¹⁾
	a.	August 2022		10	0	10
	b.	2022 Year-to-date		95	0	95
Active applications⁽¹⁾(as at 31 August 2022)
1.	Under processing
	a.	New applications accepted since 1 January 2022		84	3	87
	b.	Others		34 __________	4 __________	38 __________
		Sub-total		118	7	125
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2022		28	0	28
	b.	Others		4 __________	0 __________	4 __________
Total				150	7	157

Inactive applications⁽²⁾ (since 1 January 2022)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed	44	0	44
	b.	Others	136	9	145
2.	Rejected		0	0	0
3.	Withdrawn		3	1	4
4.	Returned⁽³⁾		0 __________	0 __________	0 __________
	Total		183	10	193

5.	Renewals⁽⁴⁾		106	6	112
6.	Returned cases resubmitted⁽⁵⁾		0 __________	0 __________	0 __________
	Total		106	6	112
No. of new listings (since 1 January 2022)
1.	Newly listed companies⁽⁶⁾		47	0	47
2.	Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules		16	N/A	16
3.	Transfer of listing from GEM to Main Board		1 __________	N/A __________	1 __________
Total			64	0	64

⁽¹⁾	Includes application(s) by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules, application(s) for transfer of listing from GEM to the Main Board, and deemed new applicant(s)pursuant to Main Board Listing Rule 8.21C or Main Board Listing Rule 14.84, and very substantial acquisition(s) treated as reverse takeover(s) pursuant to Main Board Listing Rule 14.06(6)/GEM Listing Rule 19.06(6).
⁽²⁾	Includes any application (or renewal) not approved, returned, rejected or withdrawn within six months from date of application.
⁽³⁾	Applications accepted for vetting but subsequently returned on the ground that the information in the listing application proof or related documents is not substantially complete.
⁽⁴⁾	Includes all applications accepted within three months following a lapsed, rejected or withdrawn application by the same applicant.
⁽⁵⁾	Applications resubmitted to the Exchange after an 8-week moratorium from the date of the return letter.
⁽⁶⁾	Includes 3 applications by Special Purpose Acquisitions Companies pursuant to Chapter 18B of the Main Board Listing Rules. Not include (i) applications by investment vehicle(s) (including Exchange Traded Funds (ETFs) and Real Estate Investment Trust (REITs)) and investment companies pursuant to Chapters 20 and 21 of the Main Board Listing Rules and (ii) application(s) for transfer of listing from GEM to the Main Board.
⁽⁷⁾	First comment letters are the first letters issued by Listing Department staff that contain the comments on the respective listing applications. It only covers the first comment letters issued this month. For reports issued from January 2011 onwards, non-business days have been subtracted from “the average number of days taken”. The figures exclude cases for a transfer of listing from GEM to the Main Board.
⁽⁸⁾	Covers only the guidance letters issued this month. For the reports issued from January 2011 onwards, non-business days have been subtracted from "the average number of days taken".

Delisting and Suspension Information
(As at 31 August 2022)

			Main Board	GEM	Total
(a)	Number of delisted companies (since 1 January 2022)
	a.	Withdrawal of listing pursuant to privatisation	9	1	10
	b.	Transfer of listing from GEM to Main Board	N/A	1	1
	c.	Cancellation of listing pursuant to delisting procedures under the Listing Rules	22	8	30
	d.	Voluntary withdrawal of listing	2 __________	0 __________	2 __________
Total			33	10	43
(b)	Number of companies in suspension for three months or more (as at 31 August 2022)
	a.	Main Board companies in delisting procedures under Practice Note 17⁽⁹⁾	0	N/A	0
	b.	Other suspended companies⁽¹⁰⁾	104	13	117
	c.	Delisting approved by the Listing Committee	5 __________	1 __________	6* __________
Total			109	14	123

Other Information
(As at 31 August 2022)

			Main Board	GEM	Total
(c)	Number of listed companies (as at 31 August 2022)		2,234	343	2,577

⁽⁹⁾	Main Board companies that are placed in a three stage process of delisting under Practice Note 17 to the Main Board Listing Rules for failure to maintain sufficient operations or assets.
⁽¹⁰⁾	The Exchange may cancel the listing of companies if trading in their securities has remained suspended for 18 continuous months under Main Board Rule 6.01A or 12 continuous months under GEM Rule 9.14A. Depending on the specific facts and circumstances of a suspended company, the Exchange may at any time publish a delisting notice stating its right to delist the company if it fails to resume trading within a shorter period specified in the notice.

*	4 Main Board companies have applied to the Exchange to review the delisting decisions. The review procedures are in progress.

This report is updated on the last trading day of each month.

Ends

Updated 22 Nov 2022