close
Share with your friends

Hong Kong Capital Markets Update - Issue 4, October 2015

Hong Kong Capital Markets Update - Issue 4, 2015

The Stock Exchange of Hong Kong Limited (“the Exchange”) recently updated its Guidance Letter (GL) 25-11 in relation to the conditions for waivers from strict compliance with Main Board (MB) Listing Rule 4.04(1) and Growth Enterprise Market (GEM) Listing Rules 7.03(1) and 11.10 (together, the “Rules”).

1000

Related content

Hong Kong Capital Markets Update

In GL25-11, the Exchange sets out the conditions for waivers from strict compliance with the Rules for listing applicants planning to list within the first three months (two months for a GEM applicant) after their financial year end (“Waiver”). In its September 2015 update to GL25-11, the Exchange consolidated the relevant guidance set out in the Listing Decision (LD) 91-1 relating to the Exchange’s decision in a Waiver. In particular, the Exchange indicated in the updated guidance letter that it will not automatically grant a Waiver and that the Exchange is also not likely to grant a waiver “if there is a downward trend in an applicant’s recent business performance to the extent that it may not meet the minimum profit requirement if such waiver is not granted.”

© 2020 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in China, KPMG, a Macau partnership and KPMG, a Hong Kong partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited  ("KPMG International"), a private English company limited by guarantee. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

 

For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.

Connect with us