Report on Initial Public Offering Applications, Delisting and Suspensions (As at 29 September 2023)

Market Operations

29 Sep 2023

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 29 September 2023)

				Main Board	GEM	Total
New Applications Accepted⁽¹⁾
	a.		September 2023	6	0	6
	b.		2023 Year-to-date	111	4	115
Approvals in principle granted⁽¹⁾
	a.	September 2023		11	0	11
	b.	2023 Year-to-date		61	0	61
Active applications⁽¹⁾(as at 29 September 2023)
1.	Under processing
	a.	New applications accepted since 1 January 2023		73	3	76
	b.	Others		18 __________	0 __________	18 __________
		Sub-total		91	3	94
2.	Approval in principle granted
	a.	Approvals granted since 1 January 2023		18	0	18
	b.	Others		3 __________	0 __________	3 __________
Total				112	3	115

Inactive applications⁽²⁾ (since 1 January 2023)
1.	Lapsed
	a.	Approval in principle granted but not listed prior to application lapsed	30	0	30
	b.	Others	73	3	76
2.	Rejected		0	0	0
3.	Withdrawn		1	2	3
4.	Returned⁽³⁾		1 __________	0 __________	1 __________
	Total		105	5	110

5.	Renewals⁽⁴⁾		74	1	75
6.	Returned cases resubmitted⁽⁵⁾		0 __________	0 __________	0 __________
	Total		74	1	75
No. of new listings (since 1 January 2023)
1.	Newly listed companies⁽⁶⁾		44	0	44
2.	Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules		11	N/A	11
3.	Transfer of listing from GEM to Main Board		3 __________	N/A __________	3 __________
Total			58	0	58

First Comment Letters Issued⁽⁷⁾
	a.	September 2023	11
	b.	Average number of days taken between the date of application and the date of issue of related first comment letter	12
All Comment Letters Issued⁽⁷⁾
	a.	September 2023	44
	b.	Average number of days taken for issuing comment letter	13
Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
	a.	September 2023	10
	b.	Average number of days taken between the date of request for guidance and the date of issue of written response⁽⁸⁾	11

⁽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⁾	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 29 September 2023)

			Main Board	GEM	Total
(a)	Number of delisted companies (since 1 January 2023)
	a.	Withdrawal of listing pursuant to privatisation	5	1	6
	b.	Transfer of listing from GEM to Main Board	N/A	3	3
	c.	Cancellation of listing pursuant to delisting procedures under the Listing Rules	24	7	31
	d.	Voluntary withdrawal of listing	1 __________	0 __________	1 __________
Total			30	11	41
(b)	Number of companies in suspension for three months or more (as at 29 September 2023)
	a.	Other suspended companies⁽⁹⁾	68	17	85
	b.	Delisting approved by the Listing Committee	3 __________	3 __________	6* __________
Total			71	20	91

Other Information
(As at 29 September 2023)

			Main Board	GEM	Total
(c)	Number of listed companies (as at 29 September 2023)		2,274	329	2,603

⁽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.

*	3 Main Board companies and 3 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 18 Dec 2023