Entire Section

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    • 14.08

      In the case of a new applicant, the listing document is required to include the following:—
       
      (1)    the statements required pursuant to rule 14.04 (disclaimer) and rule 14.05 (GEM characteristics);
       
      (2)    [Repealed 1 July 2008];
       
      (3)    the statement of business objectives, as described in rules 14.19 to 14.21;
       
      (4)    subject to rule 14.11(6), all of the specific items of information which are set out in Part A of Appendix 1;
       
      (5)    appropriate risk factors, taking into consideration the matters set out in rule 14.22;
       
      (6)    if applicable, the information required by virtue of rule 14.10; and
       
      (7)    subject to rule 14.13 and to the extent not included by virtue of the above, such particulars and information which, according to the particular nature of the applicant and the securities for which listing is sought, is necessary to enable an investor to make an informed assessment of:—
       
        (a)    the activities, profits and losses, assets and liabilities, financial position, management and prospects of the applicant; and
       
        (b) the rights and trading arrangements attaching to such securities.
       
        Note:    The Exchange may consider an application for a waiver from the disclosure requirement of the issue price or offer price under rule 14.08 and paragraph 15(3)(c) of Appendix 1A for issuers with, or seeking, a dual listing, subject to the conditions that:‒
       
          (a)    the Commission grants a certificate of exemption from strict compliance with the relevant requirements of the Companies (Winding Up and Miscellaneous Provisions) Ordinance;
       
          (b)    the listing document discloses (i) the maximum offer price (also in the application forms); (ii) when the final offer price will be determined and how it will be published; (iii) the issuer’s historical share prices during the trading record period and up to the latest practicable date; (iv) trading liquidity; (v) the determinants of the final offer price; and
       
          (c)    investors will be able to access the latest market price of the issuer’s shares.
       

    • 14.09

      In the case of an issuer some part of whose share capital is al listed on GEM, the listing document is required to include the following:—

      (1) the statements required pursuant to rule 14.04 (disclaimer) and rule 14.05 (GEM characteristics);
      (2) subject to rule 14.11(1) to (5), all of the specific items of information which are set out in Part B of Appendix 1;
      (3) in circumstances where the listing document is to be issued in conjunction with the raising of new capital by the issuer, appropriate risk factors, taking into consideration the matters set out in rule 14.22;
      (4) if applicable, the information required by virtue of rule 14.10; and
      (5) subject to rule 14.13 and to the extent not included by virtue of the above, such particulars and information which, according to the particular nature of the issuer and the securities for which listing is sought, is necessary to enable an investor to make an informed assessment of:—
      (a) the activities, profits and losses, assets and liabilities, financial position, management and prospects of the issuer; and
      (b) the rights and trading arrangements attaching to such securities.

    • 14.10

      Special requirements for listing documents issued by overseas issuers and PRC issuers are set out in Chapters 24 and 25 respectively.

    • 14.11

      The following items of information may be omitted in the following specific cases:—

      (1) rights issues The following paragraphs of Part B of Appendix 1: 8, 24, 26(1), 26(3), 26(4), 26(5), 37 and 42(4)
      (2) open offers As for rights issues
      (3) capitalisation issues (including in the form of scrip dividends) and bonus issues of warrants The following paragraphs of Part B of Appendix 1: 3 to 5, 7, 8, 11, 12, 13, 15, 18, 19, 22 to 43
      (4) exchanges or substitutions As for capitalisation issues
      (5) placings by or on behalf of a listed issuer of securities of a class al listed where a prospectus or other listing document is otherwise required or issued As for rights issues
      (6) Listing documents supporting an introduction in the circumstances set out in rule 10.18(3) where the consolidated assets and liabilities of the issuer are substantially the same as the consolidated assets and liabilities of the listed issuer or issuers whose securities have been exchanged The following paragraphs of Part A of Appendix 1: 8(1), 21, 33, 35 and 37, provided that the information required by paragraph 31(3) of Part B of Appendix 1 is included.

      Note: See also rules 24.05(6) and 24.09(5).

    • 14.12

      Negative statements are required only where so indicated in Appendix 1.

    • 14.13

      The requirements of rule 14.08(7)(a) shall not apply to an introduction in the circumstances set out in rule 10.18(3) and the requirements of rule 14.09(5)(a) shall not apply to a capitalisation issue (including in the form of a scrip dividend) or a bonus issue of warrants, or an exchange or substitution (arising from consolidation or sub-division of shares of securities or a capital reduction of existing listed securities or otherwise).

    • 14.14

      The Exchange reserves the right to require disclosure of such additional or alternative items of information as it considers appropriate in any particular case. The Exchange also has the right to permit the omission or modification of items of information to suit the circumstances of a particular case. Where permission is sought to the omission or modification of items of information, the listing document, in the form desired, may not be issued until such permission has been granted by the Exchange. Issuers are encouraged, through their Sponsors where so retained, to seek informal and confidential guidance from the Exchange at the earliest opportunity.

    • 14.15 [Repealed]

      [Repealed 1 July 2008]

    • 14.16 [Repealed]

      [Repealed 1 July 2008]

    • 14.17 [Repealed]

      [Repealed 1 July 2008]

    • 14.18 [Repealed]

      [Repealed 1 July 2008]