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Listing Rules and Guidance: Contents


 
 

The HKEX Rules, Interpretation and Guidance are maintained by Thomson Reuters Governance, Risk and Compliance to organise the materials for greater accessibility. Hyperlinked cross references are now available in the HTML versions.

In the case of discrepancies between HTML and PDF versions of the HKEX Rules, Interpretation and Guidance, the PDF version prevails.

2013
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Select By Rule or Topic: Download the consolidated index here

Please visit Archive to view listing decisions which have been superseded or are no longer applicable.

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
 
HKEx-LD100-1
HKEx-LD100-2
HKEx-LD101-1
 
HKEx-LD1-2011
HKEx-LD2-2011
HKEx-LD3-2011

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

LD Series Number First Release Date (Last Update Date) (mm/yyyy Listing Rules/Topics Particulars
LD76-2013 12/2013 Main Board Rules 2.13(2) and 8.04 Whether the Applicants were suitable for listing under Rule 8.04 given that they had conducted businesses in certain countries which were subject to trade or economic sanctions imposed by overseas governments before and during the Track Record Period, and if so, how the issue could be addressed
LD75-2013 07/2013
(05/2016)
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
LD74-2013 06/2013 Main Board Rules 18.04 and 18.07 Whether Company A has satisfactorily demonstrated that its principal mineral asset has a clear path to commercial production under Rule 18.07

(Withdrawn in September 2016)
LD73-2013 05/2013 Main Board Rules 2.03, 2.04, 2.06 and 8.04 Whether Company A's non-compliances, uncertainties over the principal retail stores and deteriorating financial performance subsequent to the Track Record Period would render it unsuitable for listing
LD72-2013 05/2013 Paragraph 3(f) of Practice Note 15 to the Main Board Rules Whether the Exchange would waive the assured entitlement requirement for Company A's proposal to spin-off Company B (Withdrawn; Superseded by LD104-2017 in January 2017)
LD71-2013 05/2013
(04/2015)
Main Board Rule 7.19(6) Whether Company A's proposed rights issue required independent shareholder approval
LD70-2013 05/2013} Main Board Rule 7.21(1) Whether Company A's arrangements to dispose of the excess rights shares would comply with Rule 7.21(1)
LD69-2013 05/2013 Main Board Rule 14.38A Whether the Exchange would waive the circular requirement for a major transaction of Company A
LD68-2013 05/2013 Main Board Rules 14.58(2), 14.60(1), 14.60(2) Whether the Exchange would waive certain specific disclosure requirements for the announcement of a discloseable transaction
LD67-2013 05/2013 Main Board Rules 13.13, 13.15, 14.58 Whether the Exchange would waive the requirements for disclosing certain information relating to a loan provided by Company A to the Borrower
LD66-2013 05/2013 Main Board Rule 14.67(6) (b)(i) Whether the Exchange would waive the requirement for Company A's circular to include a 3-year profit and loss statement for the property to be acquired from the Vendor
LD65-2013 05/2013 Main Board Rules 18.09(2), 18.09(3) Whether the Exchange would waive the requirements for Company A to produce a competent person's report (CPR) and a valuation report (VR) for its proposed acquisition of the Target
LD64-2013 04/2013 Rules 19.05 and 19.30 and GEM Rule 24.05 Whether the Exchange would consider Labuan an acceptable jurisdiction under Chapter 19 of the Main Board Rules and Chapter 24 of the GEM Rules

(Withdrawn, superseded by Labuan Country Guide in December 2013)
LD63-2013 04/2013 (07/2014) Main Board Rule 14A.103 Whether the Exchange would waive the annual review and reporting requirements for a continuing connected transaction between Company A and Company B
LD62-2013 04/2013 Main Board Rules 14.36, 14.49 Whether the Proposed Amendment was a material change to the terms of the Acquisition agreement
LD61-2013 04/2013 (07/2014) Main Board Rule 14.20, 14A.80 Whether the Exchange would accept Company A's proposed alternative revenue ratio for classifying transactions under Chapters 14 and 14A
LD60-2013 04/2013 (07/2014) Main Board Rule 14A.80 Whether the Exchange would accept Company A's proposed alternative revenue ratio for classifying certain continuing connected transactions with Company B
LD59-2013 04/2013 Main Board Rule 14.06(6)(a) Whether the Exchange would waive Rule 14.06(6)(a) so that Company A's proposed acquisition of certain assets from Mr. X would be classified as a very substantial acquisition rather than a reverse takeover
LD58-2013 04/2013 Main Board Rule 14.06(6) Whether the Exchange would waive Rule 14.06(6)(a) so that Company A's proposed acquisition of the Target would not be classified as a reverse takeover
LD57-2013 04/2013 Main Board Rule 14.06(6) Whether Company A's proposed acquisition of an interest in the Target was a reverse takeover
LD56-2013 03/2013
(04/2015)
Main Board Rules 8.08(1)(a), 13.32 Whether the Exchange would give listing approval for new shares to be issued upon conversion of the convertible notes that could result in Company A's public float falling below the minimum 25% requirement under the Rules
LD55-2013 03/2013 Main Board Rule 14.04(1) Whether Company A was required to classify its subscription for convertible notes issued by Company B as if the notes were fully converted at the time of entering into the subscription agreement
LD54-2013 03/2013
(04/2015)
Main Board Rules 13.36, 28.05 Whether the Exchange would approve the proposed changes to the terms of convertible bonds issued by Company A under a general mandate
LD53-2013 03/2013 Main Board Rule 18.04 Whether Company A's directors and senior management, taken together, had "sufficient experience relevant to exploration and/ or extraction activity"?
LD52-2013 03/2013 Main Board Rules 2.04, 4.01(1), 7.14, 7.15, 8.06, 8.08 (1)(b), 8.08(3), 19A.18(1) and paragraph 37 of Appendix 1A
(i) Whether Company A's listing by way of introduction would be acceptable
(ii) Whether Company A's requested waivers would be granted
LD51-2013 02/2013 Main Board Rule 18.32 Whether NI 51-101 is an acceptable reporting standard under Rule 18.32
LD50-2013 02/2013 Main Board Rule 18.03(1)(b) Whether Company A had adequate rights under the production sharing contracts which gave it sufficient influence in decisions over the exploration for and/or extraction of crude oil
LD49-2013 01/2013 Main Board Rules 18.33(2) and 18.33(6)
(1) Whether disclosure of net present values attributable to Proved Reserves, Proved plus Probable Reserves, Proved plus Probable plus Possible Reserves and Contingent Resources both on a pre-tax and post-tax basis is acceptable under Main Board Rule 18.33(2)
(2) Whether to grant a waiver of Main Board Rule 18.33(6) to allow Company A to disclose estimated values of Possible Reserves, Contingent Resources and Petroleum-Initially-In-Place
LD48-2013 01/2013
(05/2016)
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
LD47-2013 01/2013
(04/2015)
Main Board Rule 3.28, HKEx-LD35-1 (July 2003) Whether Mr. X qualified to act as Company A's secretary after the waiver period
LD46-2013 01/2013
(04/2015)
Main Board Rule 3.28 Whether Mr. X qualified to act as Company A's secretary
LD45-2013 01/2013 Main Board Rules 18.09(2), 18.09(3) and 18.09(4) Whether the Exchange would grant a waiver such that Company A could defer the publication of the competent person's report (CPR), valuation report (VR) and other disclosures as required under Rules 18.09(2), (3) and (4)
LD44-2013 01/2013 Main Board Rules 14.06(6) and 18.03(1) Whether the Target had the right to participate actively in the exploration for and/or extraction of natural resources
LD43-2013 01/2013 Main Board Rules 14.06(6), 18.04 and 18.07 Whether the Target had a clear path to commercial production
LD42-2013 01 /2013 Main Board Rule 18.09(2) Whether the Exchange would waive the requirement to produce a competent person's report (CPR) on the mineral resources to be disposed of by Company A
LD41-2013 01/2013 Main Board Rules 14.06(6) and 18.03(2) Whether the Target had a portfolio of natural resources that was meaningful and of sufficient substance to justify a listing
LD40-2013 01/2013 Main Board Rules 18.09(2) and (3) Whether the Exchange would waive the requirements to produce competent person's reports (CPR) and valuation reports on some of the mining interests held by the Target
LD39-2013 01 /2013 Main Board Rules 14.06(6) and 18.03(2) Whether the Target had a portfolio of natural resources that was meaningful and of sufficient substance to justify a listing