Update No. 134

Note to subscribers for the amendments to the rules governing the listing of securities (the "Listing Rules")
Update No. 134
November 2021
Amendments to the Main Board Listing Rules
We have amended the Main Board Listing Rules to implement the proposals of the "Consultation Conclusions Paper on Listing Regime for Overseas Issuers" published on 19 November 2021.
The amendments to the Main Board Listing Rules are to enhance and streamline the listing regime for overseas issuers1. The key changes include:
    1.    introducing one common set of core shareholder protection standards that will apply to all issuers to provide the same level of protection to all investors;
    2.    allowing eligible issuers to dual-primary list directly while keeping their existing non-compliant weighted voting rights (WVR) and/or variable interest entity structures;
    3.    expanding the secondary listing regime for overseas issuers to allow admission of those with a centre of gravity in Greater China without WVR structures that operate in traditional industries; and
    4.    codifying some conditional common waivers for dual-primary listings and secondary listings.
Coming into effect
The amendments will take effect from 1 January 2022.
Please click HERE to see the amendments to the Main Board Listing Rules.


1. Issuers incorporated or otherwise established outside Hong Kong and the People’s Republic of China.