The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), has today (Wednesday) updated its guidance letter related to disclosure in listing documents of biotech companies.
The updated Guidance Letter, HKEX-GL107-20, provides guidance on presenting fair, balanced and accurate disclosure and additional expectations on disclosing certain key business and product areas of biotech companies listed under Chapter 18A of the Exchange’s Listing Rules.
HKEX’s Head of Listing Bonnie Y Chan said: “Since Chapter 18A was introduced in April 2018, we have seen a significant development in terms of the number and diversity of listing applications by biotech companies.”
Hong Kong has already become the world’s second-biggest biotech listing venue, with 30 biotech companies listed under Chapter 18A raising a total of $78 billion, spanning a diverse range of medical products with different scientific focus and business arrangements.
“As the breadth and depth of the Hong Kong biotech sector continues to expand, we want to provide further guidance to enhance disclosure in listing documents of biotech companies. We would also like to thank the Biotech Advisory Panel members for providing their continuous technical support in the review of listing applications as well as their valuable input on this updated Guidance Letter,” said Ms Chan.
The HKEX’s Biotech Advisory Panel is a panel of experienced participants in the biotech industry to provide advice relating to biotech companies. The function of panel is advisory only and members will be consulted on an individual and “as needed” basis.
The latest updated Guidance Letter can be found on the HKEX website.
About HKEX
Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.
HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, the London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange (QME), in China, in 2018.
HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.
www.hkexgroup.com
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