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

Market Operations
31 Oct 2022

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

Main Board GEM Total
New Applications Accepted(1)

 
a. October 2022 10 0 10
b. 2022 Year-to-date 160 3 163
Approvals in principle granted(1)
 
a. October 2022
13 0 13
b. 2022 Year-to-date 117 0 117
Active applications(1) (as at 31 October 2022)
 
1. Under processing  
a. New applications accepted since 1 January 2022 70 1 71
b. Others

20

__________

3

__________

23

__________

Sub-total 90 4 94
2. Approval in principle granted  
a. Approvals granted since 1 January 2022 29 0  29
b. Others

4

__________

0

__________

4

__________

Total 123 4 127



Inactive applications(2) (since 1 January 2022)
 
1. Lapsed  
a. Approval in principle granted but not listed prior to application lapsed 61 0 61

b. Others 179 12 191
2. Rejected 0 0 0
3. Withdrawn 4 1 5
4. Returned(3)

0

__________

0

__________

0

__________

Total 244 13 257

5. Renewals(4)
144 6 150
6. Returned cases resubmitted(5)

0

__________

0

__________

0

__________

Total 144 6 150

No. of new listings (since 1 January 2022)


 
1. Newly listed companies(6)              61 0 61
2.  Investment vehicle(s) listed  pursuant to Chapters 20 and 21 of the Main Board Listing Rules  
21  N/A 21
3. Transfer of listing from GEM to Main Board

1

__________

N/A

__________

1

__________

Total 83 0 83



First Comment Letters Issued(7)
 
a. October 2022
7
b. Average number of days taken between the date of application and the date of issue of related first comment letter 16
Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
 
a. October 2022 4

b. Average number of days taken between the date of request for guidance and the date of issue of written response(8) 10

(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 31 October 2022)

Main Board GEM Total
(a) Number of delisted companies (since 1 January 2022)

 
a. Withdrawal of listing pursuant to privatisation 11 1 12
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 30 9 39
d. Voluntary withdrawal of listing

2

__________

0

__________

2

__________

Total 43 11 54
(b) Number of companies in suspension for three months or more (as at 31 October 2022)
 
a. Other suspended companies(9)  92 12 104
b. Delisting approved by the Listing Committee

10

__________

1

__________

11*

__________

Total 102 13 115


Other Information
(As at 31 October 2022)

Main Board GEM  Total
(c) Number of listed companies (as at 31 October 2022) 2,238 342 2,580

(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.
   
* 6 Main Board companies and 1 GEM company 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