In 2023, there marked an 18% cut in the number of IPOs and a 54% decline in proceeds raised in Hong Kong. To recuperate from the downturn, continuous efforts have been made in the Hong Kong IPO market to boost the overall attractiveness of Hong Kong's capital market. The Hong Kong Exchange (HKEX) introduced Chapter 18C of the Main Board Listing Rules in 2023 to open up listing channels for specialized technology companies which will help connect specialist technology companies with international funds, bringing new opportunities to technology companies. The reforms to GEM Listing Rules were effective in January 2024, streamlining the transfer mechanism to further enable qualified GEM issuers to transfer to the Main Board. In addition, the HKEX launched of the Fast Interface for New Issuance (FINI) and Synapse platforms, as well as the cooperation with the Middle East and Association of Southeast Asian Nations (ASEAN), providing greater convenience and transparency for market participants. As a word, this will be a challenge year for the Hong Kong Capital Market. This series aims at providing participants the updates on key aspects for listing. The webinars will cover recent update on the Hong Kong listing requirements and Mainland China regulatory developments on overseas listing, tax considerations for going public, internal control and cybersecurity readiness, corporate fraud and financial accounting scandals, cross border data transfer rules in China and the continuing obligations of a listed entity with the objective of enhancing participants' understanding of rules and regulations for listed or listing entities on HKEX, etc. Entities Listing on HKEX Series: Privatization (ESEMEF271L01) This e-seminar will focus on privatization in relating to listing on HKEX. Topics include: - Law and practice:
- Privatization rules
- Privatization – H share companies
- Delisting rules
- Disinterested shares and independent shareholders
- What is a scheme of arrangement?
- The headcount test
- New regulations in Mainland China
- Case study:
- Privatization by scheme: Chong Hing Bank (Hong Kong law) (May 2021); Dali Foods (Cayman law) (July 2023)
- Privatization by share offer (compulsory acquisition): YS Advanced Materials (Cayman law) (May 2021)
- H share companies (merger by absorption): Poly Culture (Mainland China law) (June 2023)
Notice This course operates under a learning management system (LMS) designed to enhance the learning experience. The course will be available to LMS-registered users within 24 hours. (Note: first-time user will receive an activation email shortly from no-reply@lmsmailbox.hkicpa.org.hk containing instructions to activate an LMS account.) The viewing period for the course is 180 days. Offline enrolment form
|