On 21 August 2020, the Stock Exchange of Hong Kong Limited (the Exchange) published the conclusion of its consultation on proposed changes to Chapter 37 of the Main Board Listing Rules – Debt Issues to Professional Investors Only. The related Listing Rules amendments and the guidance on disclosures in listing documents and continuing obligations under Chapter 37 to take effect on 1 November 2020.
The key focus of the Exchange proposed amendments to Chapter 37 is to balance the need of safeguarding investor protection while maintaining an effective and appropriate listing platform for the continued development of the bond market in Hong Kong in light of market developments.
The Exchange, after considering the comments from the respondents, decided to adopt most of the proposals in the consultation paper with minor modifications.
The Exchange also issued the “Guidance on Disclosures in Listing Documents and Continuing Obligations under Chapter 37 – Debt Issues to Professional Investors Only” that provides guidance on disclosure in listing documents and continuing obligation under the Professional Debt Regime.