Listing Rules and Guidance: Contents


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This section comprises decisions on cases handled by the Listing Committee and/or the Listing Division, to enhance transparency and market understanding of their interpretation of the Listing Rules. Each decision was based on its specific circumstances and is not a precedent for future cases.

Effective from 1 January 2011, listing decisions will be published under a new naming format as illustrated below:

Before 1 January 2011 On or After 1 January 2011

Listing decisions published before 1 January 2011 continue to bear the old references.

LD Series Number First
Date (Last
Listing Rules/ Topics Particulars
LD92-2015 06/2015 Main Board Rules 2.06 and Chapter 8
GEM Rules 2.09 and Chapter 11
To provide guidance on why the Exchange rejected certain listing applications
LD91-2015 06/2015
Main Board Rule 9.03(3) and GEM Rules 12.09 and 12.14 To provide guidance on why the Exchange returned certain listing applications
LD90-2015 05/2015 Main Board Rules 13.36 and 15.02 Whether Company A was allowed to use the general mandate for placing of warrants to third party investors

(Withdrawn in July 2018)
LD89-2015 05/2015 Main Board Rules 15.01 and 17.01 Whether Company A's proposed issue of warrants to certain members of senior management was subject to the requirements of Chapter 17
LD88-2015 05/2015
Main Board Rule 13.24 Whether Company A would have sufficient operations or assets under Rule 13.24 after a very substantial disposal
LD87-2015 05/2015
Main Board Rules 6.05 to 6.07 and Paragraph 4 of Practice Note 11 Whether the Exchange would direct the resumption of trading in Company A's shares under Rule 6.07
LD86-2015 04/2015 GEM Rule 11.12A(1) Whether Company A's cash flow generated during a period of non-compliance should be counted towards the calculation of minimum cash flow under GEM Rule 11.12A(1)
LD85-2015 01/2015
Main Board Rule 10.07(1) Whether Company B, which will cease to be a controlling shareholder of Company A shortly after listing, should be subject to a 12-month lock-up of its shares after Company A's listing under Listing Rule 10.07(1)