Where the structured product relates to a single class of shares, the structured product may only be listed if at the time of issue of the structured product such class of shares is or will become at the same time:-
(1) listed on the Exchange and is, on the day the structured product is launched, a member of the Hang Seng Index provided that the structured product concerned is a derivative warrant, equity linked instrument or such other type of structured product as may be specified by the Exchange from time to time; or
(2) listed on the Exchange and is, on the day the structured product is launched, a Single Scheduled Stock eligible for the type of structured product proposed to be issued as defined in rule 15A.35
below;Note: The Exchange may waive compliance with the requirement for a stock to be a Single Scheduled Stock where the capitalisation of shares in the hands of the public exceeds HK$10 billion. Rules 8.08(1) and 8.24 provide guidance on calculating the number of shares "in the hands of the public." Shares which are subject to lock up arrangements will not be considered as being in the hands of the public until the lock up arrangements expire.
(3) listed or dealt in on another regulated, regularly operating, open stock market recognised for this purpose by the Exchange, and
(a) is required by the laws, regulations or rules of that market to have a minimum number or percentage of shares in the hands of the public and the public float capitalisation of such shares is not less than HK$4 billion, or
(b) if such market does not impose a requirement to have a minimum number or percentage of shares in the hands of the public, the Exchange may allow the listing of the structured products if the market capitalisation of such shares is not less than HK$10 billion and the Exchange is satisfied with the liquidity of the market in the shares.