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 – Share Buy-back and Treasury Shares (archived session) (ESEMEF281L01) This seminar will focus on share buy-back and treasury shares in relation to listing on HKEX. Topics include: - Share buy-back
- Introduction on share buy-back
- Basic principles of share buy-back by listed issuers
- Methods of share buy-back
- On-market buy-back
- Off-market buy-back
- Share buy-back by general offer
- Share buy-back practices
- Share buy-back programs: Guidance Letter GL117-23
- Cases: JD; Alibaba; Wonderful Sky; Lanzhou Zhuangyuan Pasture etc.
- Treasury shares
- The law and principal restrictions
- Amendments to Listing Rules relating to treasury shares: Guidance Letter GL119-24 and PN26
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
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