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Report on Initial Public Offering Applications, Delisting and Suspensions (As at 29 September 2017)

Market Operations
29 Sep 2017

Report on Initial Public Offering Applications, Delisting and Suspensions
(As at 29 September 2017)

 

Main Board GEM Total
New Applications Accepted



a. September 2017
(i) Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules 18 18 36
(ii) Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules 2 N/A 2
(iii) Application(s) for transfer of listing from GEM to Main Board

3 N/A 3
(iv) 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) 0


________
0


________
0


________
Total 23 18 41
b. 2017 Year-to-date
(i) Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules 109 106 215
(ii) Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules 22 N/A 22
(iii) Application(s) for transfer of listing from GEM to Main Board

22 N/A 22
(iv) 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) 7


_________
0


_________
7


_________
Total 160 106 266


Approvals in principle granted(1)

a. September 2017 11 10 21
b. 2017 Year-to-date 80 57 137


Active applications(1) (as at 29 September 2017)
1. Under processing
a. New applications accepted since 1 January 2017 106 79 185
b. Others 9
_________
9
_________
18
_________
Sub-total 115 88 203
2. Approval in principle granted
a. Approvals granted since 1 January 2017 10 11 21
b. Others 0

_________
0

_________
0

_________
Total 125 99 224



Inactive applications(2) (since 1 January 2017)

1. Lapsed
a. Approval in principle granted but not listed prior to application lapsed 10 11 21
b. Others 48 51 99
2. Rejected 2 4 6
3. Withdrawn 3 7 10
4. Returned(3) 1
_________
0
_________
1
_________
Total 64 73 137

5. Renewals(4)
52 53 105
6. Returned cases resubmitted(5) 0
_________
3
_________
3
_________
Total 52 56 108


No. of new listings (since 1 January 2017)


(i) Companies listed pursuant to Chapter 8 of the Main Board Listing Rules/ Chapter 11 of the GEM Listing Rules 51 55 106
(ii) Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules 19 N/A 19
(iii) Transfer of listing from GEM to Main Board 8 N/A 8
(iv) Deemed new listing(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) 0


_________
0


_________
0


_________
Total 78 55 133



First Comment Letters Issued(6)


a. September 2017 25
b. Average number of days taken between the date of application and the date of issue of related first comment letter 22
 
Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
a. September 2017
12
b. Average number of days taken between the date of request for guidance and the date of issue of written response(7) 8

(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) 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.  If included, the number of first comment letters issued is 28 and the average number of days taken is 23.
(7) 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 2017)

Main Board GEM Total
(a) Number of delisted companies (since 1 January 2017)

a. Withdrawal of listing pursuant to privatisation 4 0 4
b. Transfer of listing from GEM to Main Board N/A 8 8
c. Cancellation of listing pursuant to delisting procedures under the Listing Rules 1 2 3
d. Voluntary withdrawal of listing 2
_________
1
_________
3
_________
Total 7 11 18
(b) Number of companies in suspension for three months or more
(as at 29 September 2017)

a. Companies not in delisting procedures 33 1 34
b. Main Board companies in delisting procedures:


- first stage of delisting(8) 4 N/A 4
- second stage of delisting(9) 2 N/A 2
- third stage of delisting(9)
13 N/A 13
c. GEM companies given 6 months' notice for delisting