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Gem board listing requirement

Companies listed on GEM may request a separate listing of their existing activities and assets if the spin-off entity meets all listing criteria and other factors, such as the ability of the spin-off company to operate independently of its parent company and the level of competition between the applicant company and that of its parent company. Higher admission requirements for candidates for listing in GEM Each issuer must establish a remuneration committee, chaired by an independent non-executive director and composed primarily of independent non-executive directors with mandates. If they do not comply with these requirements, issuers must publish a notice containing the relevant details and reasons. An issuer is required to engage a compliance advisor for the period from the date of listing to the publication of its financial results for the second full year following listing (Rule 6A.19). A compliance advisor must be an institution licensed or licensed by a registered firm under the Securities and Futures Regulations to provide advice on corporate financing matters. It must also be authorized or registered to perform sponsorship work. A compliance advisor must act impartially, but not be independent of the issuer. An issuer is not required to appoint the same company that sponsored its IPO as a compliance advisor. All applications received by HKEx prior to February 15, 2018 will be submitted in accordance with those received at the time of the consultation conclusion (i.e.

February 15, 2018). December 2017) applicable GEM or Main Board registration rules. Thereafter, only an extension of these applications is allowed. In accordance with Rule 11.14, the exchange may accept a trading recording period of less than 2 financial years (and a report from the accountants for a shorter period) and waive or modify ownership and management requirements: the exchange lists short-term debt securities in the form of a short-term financing certificate issued by listed companies as well as by unlisted companies. There is no mandatory requirement for a public offering if the debt instrument is issued for a maximum period of 365 days and its size can reach Rs 100 million. The public offering, if necessary, must be at least Rs 200 million or 20% of the total issue volume, whichever is lower. The issuer shall pay an initial listing fee in an amount specified in Rule 5B.9. A new applicant must include in their registration document a statement of business objectives containing the following information: If an issuer applies to the SFC for an exemption from the disclosure requirements under Part XIVA of the FSO, it must submit a copy of the application to the Exchange and, upon receipt of the SFC`s decision, it must copy it into the exchange (GEM Rule 17.10(2)(b)). If you have already started preparations for registration, but would like to hear directly from the PSX, our team is at your disposal.

We are ready to answer any questions regarding your company`s registration. If you would like to know more about our system and registration rules such as registration criteria, or if you are wondering what you need to do to prepare for registration, please contact us from our website or by phone. The conclusions of the consultation provide for a transitional period of three years ending on 15 February 2021. During the transition period, entities that were already registered on GEM on June 16, 2017 or that have submitted a valid application for listing on GEM and are subsequently listed on GEM in accordance with that application (or any renewal thereof) (collectively, eligible issuers) may submit a transfer request to lead counsel and their suitability for lead counsel as of December 15, 2017. The exchange has the discretionary power under Rule 11.23(10) to accept a lower percentage of between 15% and 25% if the issuer has a projected market capitalization of more than $10 billion at the time of listing. HK$ and the exchange are convinced that the number of securities in question and the extent of their distribution allow the market to function properly with a lower percentage. and provided that the issuer adequately discloses the lowest prescribed percentage of the free float in the original listing document and confirms in successive annual reports after the listing that the free float is sufficient (Rule 17.38A).

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