Entire Section

  • Qualifications for Secondary Listing

    • 19C.04

      An overseas issuer with a WVR structure must have a track record of good regulatory compliance of at least two full financial years on a Qualifying Exchange.

    • 19C.05

      An overseas issuer with a WVR structure must satisfy one of the following criteria:
       
      (1)    a market capitalisation of at least HK$40,000,000,000 at the time of listing; or
       
      (2)    a market capitalisation of at least HK$10,000,000,000 at the time of listing and revenue of at least HK$1,000,000,000 for the most recent audited financial year.
       

    • 19C.05A

      An overseas issuer without a WVR structure must satisfy either paragraphs (1) and (2) (“Criteria A”) or paragraphs (3) and (4) (“Criteria B”) below:
       
      Criteria A
       
      (1)    a track record of good regulatory compliance of at least five full financial years on a Qualifying Exchange (for any overseas issuer without a WVR structure) or on any Recognised Stock Exchange (only for overseas issuers without a WVR structure and without a centre of gravity in Greater China); and
       
      (2) a market capitalisation of at least HK$3,000,000,000 at the time of listing.
       
        Note:    Applications for secondary listing from issuers with a centre of gravity in Greater China and without a WVR structure that are primary listed on a Recognised Stock Exchange other than a Qualifying Exchange will be considered only in exceptional circumstances on the basis of the issuer’s individual circumstances and the merits of the case.
       
      Criteria B
       
      (3)    a track record of good regulatory compliance of at least two full financial years on a Qualifying Exchange; and
       
      (4) a market capitalisation of at least HK$10,000,000,000 at the time of listing.
       
        Note:    A waiver of the listing track record criteria of paragraphs (1) and (3) above may be granted if the applicant seeking a secondary listing is well-established and has a market capitalisation at listing that is significantly larger than HK$10,000,000,000.
       

    • 19C.06 [Repealed]

      [Repealed 1 January 2022]

    • 19C.07 [Repealed]

      [Repealed 1 January 2022]

    • 19C.08 [Repealed]

      [Repealed 1 January 2022]

    • 19C.09 [Repealed]

      [Repealed 1 January 2022]