Update No. 129
| Note to subscribers for the amendments to the rules governing the listing of securities (the "Listing Rules") |
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| Update No. 129 |
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| August 2020 |
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| Dear Sirs, |
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| Amendments to the Main Board Listing Rules |
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| We enclose reprinted pages of the Listing Rules and filing instructions. The reprinted pages incorporate amendments to implement the proposals of the "Consultation Conclusions on Review of Chapter 37 – Debt Issues to Professional Investors Only" published on 21 August 2020. |
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| Key changes to the Listing Rules include: |
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| • | Raising the existing issuer’s minimum net assets requirement from $100 million to $1 billion; |
| • | Introducing a minimum issuance size of $100 million; |
| • | Requiring issuers to state explicitly in the listing document the intended investor market in Hong Kong are professional investors only; |
| • | Requiring publication of listing documents on the Exchange’s website on the listing date; and |
| • | Introducing other Listing Rules amendments to enhance the regulatory oversight over issuers and guarantors’ in terms of their continuing obligations. |
| Coming into effect |
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| The amendments will come into effect on 1 November 2020. |
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| Please click HERE to see the amendments to the Main Board Listing Rules. |
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| Yours faithfully, For and on behalf of The Stock Exchange of Hong Kong Limited |
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| Bonnie Y Chan Head of Listing |
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