Skip to main Content

HKEX: Report On Initial Public Offering Applications, Delisting And Suspensions

  Main Board GEM Total
New Applications Accepted(1)
 

  a. June  2020 33 2 35
  b. 2020 Year-to-date 117 12 129
Approvals in principle granted(1)
     
  a. June 2020 24 2 26
  b. 2020 Year-to-date 73 5 78
Active applications(1) (as at 30 June 2020)
     
1. Under processing      
  a. New applications accepted since 1 January 2020 90 12 102
  b. Others

33

__________

9

__________

42

__________

    Sub-total 123 21 144
2. Approval in principle granted      
  a. Approvals granted since 1 January 2020 28 2 30
  b. Others

2

__________

0

__________

2

__________

Total 153 23 176




Inactive applications(2) (since 1 January 2020)
     
1. Lapsed      
  a. Approval in principle granted but not listed prior to application lapsed 28 2 30
  b. Others 70 23 93
2. Rejected 1 0 1
3. Withdrawn 5 0 5
4. Returned(3)

0

__________

0

__________

0

__________

  Total 104 25 129

5. Renewals(4)
74 13 87
6. Returned cases resubmitted(5)

0

__________

0

__________

0

__________

  Total 74 13 87

No. of new listings (since 1 January 2020) 

 

1. Newly listed companies(6)              63 5 68
2. Transfer of listing from GEM to Main Board

4

__________

N/A

__________

4

__________

Total 67 5 72




First Comment Letters Issued(7)

  a. June 2020 16
  b. Average number of days taken between the date of application and the date of issue of related first comment letter 13
Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
 
  a. June 2020 17

b. Average number of days taken between the date of request for guidance and the date of issue of written response(8) 11

 

(1) Includes application(s) by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules, application(s) for transfer of listing from GEM to the Main Board, and deemed new applicant(s)pursuant to Main Board Listing Rule 8.21C or Main Board Listing Rule 14.84, and very substantial acquisition(s) treated as reverse takeover(s) pursuant to Main Board Listing Rule 14.06(6)/GEM Listing Rule 19.06(6).
(2) Includes any application (or renewal) not approved, returned, rejected or withdrawn within six months from date of application.
(3) Applications accepted for vetting but subsequently returned on the ground that the information in the listing application proof or related documents is not substantially complete. 
(4) Includes all applications accepted within three months following a lapsed, rejected or withdrawn application by the same applicant.
(5) Applications resubmitted to the Exchange after an 8-week moratorium from the date of the return letter.
(6) Not include transfer of listing from GEM to the Main Board. 
(7) First comment letters are the first letters issued by Listing Department staff that contain the comments on the respective listing applications. It only covers the first comment letters issued this month. For reports issued from January 2011 onwards, non-business days have been subtracted from “the average number of days taken”.  The figures exclude cases for a transfer of listing from GEM to the Main Board.  If included, the number of first comment letters issued is 18 and the average number of days taken is 13.
(8) Covers only the guidance letters issued this month. For the reports issued from January 2011 onwards, non-business days have been subtracted from "the average number of days taken".

 


Delisting and Suspension Information
 

(As at 30 June 2020)

  Main Board GEM Total
(a) Number of delisted companies (since 1 January 2020)

   
  a. Withdrawal of listing pursuant to privatisation 6 0 6
  b. Transfer of listing from GEM to Main Board N/A 5 5
  c. Cancellation of listing pursuant to delisting procedures under the Listing Rules 11 2 13
  d. Voluntary withdrawal of listing

2

__________

0

__________

2

__________

Total 19 7 26
(b) Number of companies in suspension for three months or more (as at 30 June 2020)
     
  a.  Main Board companies in delisting procedures under Practice Note 17(9) 10 N/A
10
  b. Companies given notice for delisting(10)  N/A 1 1
  c. Other suspended companies(11)  33 8 41
  d. Delisting approved by the Listing Committee

19*

__________

6*

__________

25

__________

Total 62 15 77


Other Information
(As at 30 June 2020)

  Main Board GEM Total
(c) Number of listed companies (as at 30 June 2020) 2,111 376 2,487

(9) Main Board companies that are placed in a three stage process of delisting under Practice Note 17 to the Main Board Listing Rules for failure to maintain sufficient operations or assets.
(10) The Exchange has decided to commence procedures under Main Board Rule 6.10 or GEM Rule 9.15 to cancel the listing of companies on the grounds set out in Main Board Rule 6.01 or GEM Rule 9.14.
(11) The Exchange may cancel the listing of companies if trading in their securities has remained suspended for 18 continuous months under Main Board Rule 6.01A or 12 continuous months under GEM Rule 9.14A.  Depending on the specific facts and circumstances of a suspended company, the Exchange may at any time publish a delisting notice stating its right to delist the company if it fails to resume trading within a shorter period specified in the notice.
   
* 19 Main Board companies and 5 GEM companies have applied to the Exchange to review the delisting decisions.  The review procedures are in progress.
 

This report is updated on the last trading day of each month.

 

Back to News