Update No. 65
Note to subscribers for the amendments to rules governing the listing of securities on the GEM (the "GEM Listing Rules") |
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Update No. 65 |
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August 2020 |
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Dear Sirs, |
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Amendments to the GEM Listing Rules |
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We enclose reprinted pages of the GEM 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 GEM Listing Rules include: |
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• | 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 GEM Listing Rules amendments to enhance the regulatory oversight over issuers and guarantors’ in terms of their continuing obligations. |
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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 GEM 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 |