In an effort to enable new listing applicants and their advisers to systematically and conveniently navigate all new listing-related guidance, The Stock Exchange of Hong Kong Limited (the “HKEX”) published the Guide for New Listing Applicants (the “Guide”) on November 29, 2023. A few things to note with respect to the Guide:
This Guide is divided into six main sections: (i) eligibility and suitability for listing; (ii) special listing regimes; (iii) disclosure in a listing document generally applicable to all new listing applicants; (iv) specific topics relating to a new listing application; (v) other listing structures; and (vi) other matters, with an annex setting out streamlined listing decisions to enhance readability and presentation while retaining the HKEX’s principles and guidance.
The HKEX emphasized that the Guide is not exhaustive and is not intended to be a checklist for satisfying the listing document content requirements under applicable laws and regulations and/or the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”). The Guide does not override the Listing Rules, and if there is any conflict or inconsistency between the Guide and the Listing Rules, the Listing Rules shall prevail.