Report on Initial Public Offering Applications, Delisting and Suspensions (As at 30 September 2022)

First Comment Letters Issued⁽⁷⁾

September 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

September 2022

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

Market Operations

30 Sep 2022

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 30 September 2022)

				Main Board	GEM	Total
New Applications Accepted⁽¹⁾
	a.		September 2022	5	0	5
	b.		2022 Year-to-date	150	3	153
Approvals in principle granted⁽¹⁾
	a.	September 2022		9	0	9
	b.	2022 Year-to-date		104	0	104
Active applications⁽¹⁾(as at 30 September 2022)
1.	Under processing
	a.	New applications accepted since 1 January 2022		80	3	83
	b.	Others		27 __________	4 __________	31 __________
		Sub-total		107	7	114
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2022		24	0	24
	b.	Others		6 __________	0 __________	6 __________
Total				137	7	144

Inactive applications⁽²⁾ (since 1 January 2022)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed	54	0	54
	b.	Others	151	9	160
2.	Rejected		0	0	0
3.	Withdrawn		4	1	5
4.	Returned⁽³⁾		0 __________	0 __________	0 __________
	Total		209	10	219

5.	Renewals⁽⁴⁾		124	6	130
6.	Returned cases resubmitted⁽⁵⁾		0 __________	0 __________	0 __________
	Total		124	6	130
No. of new listings (since 1 January 2022)
1.	Newly listed companies⁽⁶⁾		55	0	55
2.	Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules		18	N/A	18
3.	Transfer of listing from GEM to Main Board		1 __________	N/A __________	1 __________
Total			74	0	74

⁽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⁽²⁾	Includes any application (or renewal) not approved, returned, rejected or withdrawn within six months from date of application.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 4 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 30 September 2022)

			Main Board	GEM	Total
(a)	Number of delisted companies (since 1 January 2022)
	a.	Withdrawal of listing pursuant to privatisation	10	1	11
	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	25	8	33
	d.	Voluntary withdrawal of listing	2 __________	0 __________	2 __________
Total			37	10	47
(b)	Number of companies in suspension for three months or more (as at 30 September 2022)
	a.	Other suspended companies⁽⁹⁾	105	11	116
	b.	Delisting approved by the Listing Committee	4 __________	2 __________	6* __________
Total			109	13	122

Other Information
(As at 30 September 2022)

			Main Board	GEM	Total
(c)	Number of listed companies (as at 30 September 2022)		2,238	343	2,581

⁽⁹⁾	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 and 2 GEM 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 03 Oct 2022