PN6 Certainty of Offer Periods
The Stock Exchange of Hong Kong Limited
Practice Note 6
to the Rules Governing the Listing of Securities (the "Exchange Listing Rules")
Issued pursuant to rule 1.06 of the Exchange Listing Rules
CERTAINTY OF OFFER PERIODS
Terms used in this Practice Note which are defined or interpreted in the Exchange Listing Rules shall have the same meaning as provided in the Exchange Listing Rules.
The Exchange is concerned to ensure that all statements contained in a listing document are strictly adhered to by the issuer and such statements must not be misleading or inaccurate in any way. In this regard, the Exchange places particular importance on the details relating to an offer period set out in listing documents issued in support of an offer of securities. The Exchange considers the details of an offer period to be a material term of the listing document which must be able to be relied upon by all investors and which should remain the same for all investors. Furthermore, in order to ensure that all investors are treated fairly and equally, and so that there is no confusion or uncertainty surrounding the offer period, the offer period set out in the listing document should not normally be revised or extended.
Where details of the offer period are required to be included in a listing document in respect of an issue of equity or debt securities pursuant to the following paragraphs of Appendix 1: paragraphs 15(2)(f) of Part A, 18(1) of Part B or 17(2) of Part C, as the case may be, the following shall apply to such details:—
Hong Kong, 27 January 1992