- 16.03.2020

Dual primary listing vs secondary listing

dual primary listing vs secondary listingThe company generally starts with an initial or 'primary' listing on one exchange, and then moves to list in another or multiple jurisdictions. Listing. Learn more about the regulatory framework for secondary listings, and the list of The place of a company's primary listing (“home exchange”) will fully impose.

The storm is coming, where can the Greater China Issuers go? Meanwhile, the listing requirements in Dual primary listing vs secondary listing Kong also set a very high bar for many businesses with great dual primary listing vs secondary listing, which led to a number of IPO plans drifting away from Hong Kong to other jurisdictions.

Dual primary listing vs secondary listing

With the growing tension between China and the US and the tightening audit requirements in the US, more China-based companies are considering returning to Hong Kong for a secondary listing. Grandfathered vs.

The storm is coming, where can the Greater China Issuers go?

The former are Greater China Issuers primary listed on a Qualifying Exchange on or before 15 December being the date dual dual primary listing vs secondary listing listing vs secondary listing Chapter 19C proposals were published and the latter are How to register bitcoin in China Issuers primary listed on a Qualifying Exchange after 15 December Suitability for Secondary Listing on the Exchange Generally speaking, a Qualifying Issuer seeking dual primary listing vs secondary listing secondary listing is eligible and suitable for listing under Rule 8.

A large emerging and innovative company, being a Qualifying Issuer, is normally considered as a suitable candidate for the purpose of secondary listing under Chapter 19C.

Dual primary listing vs secondary listing

The Exchange would expect an innovative company to possess more than one of the above characteristics read more demonstrate its suitability for secondary listing under Chapter 19C.

The Exchange emphasizes that the superficial application of new technology to a conventional business is insufficient dual primary listing vs secondary listing qualify an applicant for secondary listing unless it exhibits other distinctive features or characteristics. The Exchange will review the facts and circumstances of each case to determine if such applicant has demonstrated that it is an innovative company for the purpose of the Listing Rules.

Listing Securities In Secondary Market Procedure and Advantage of Listing

Qualifications for secondary listing under Chapter 19C Under Chapter 19C, a Qualifying Issuer must have a track record of good regulatory compliance of at least two full financial years on a Qualifying Exchange. For instance, Appendices 3 on articles of association and dual primary listing vs secondary listing on additional requirements for memorandum and bye-laws do not apply to Grandfathered Greater China Issuers.

A Grandfathered Greater China issuer, however, receives a less lenient treatment from the Exchange and must amend its constitutional documents to meet the Rule 19C. Whereas Non-Grandfathered Greater China Dual primary listing vs secondary listing, in addition to the compliance with the requirements set out in the Listing Decision, they may also be required by the Exchange to demonstrate that they are able to comply with the requirements under the FIL.

Since the FIL only became effective on 1 Januarydual primary listing vs secondary listing are uncertainties over its interpretation and application. These Non-Grandfathered Greater China Issuer applicant would include such uncertainties as a risk factor in the listing document.

CONTENT DEVELOPMENT

They do not need to comply with, except for disclosure requirements, the ongoing WVR investor protection requirements set out under Rules 8A. Non-Grandfathered Greater China Issuers, on the other hand, are required to ensure that its WVR structure complies with the primary listing requirements under Chapter 8A, including ongoing WVR safeguards and disclosure requirements.

Dual primary listing vs secondary listing

Where necessary, these issuers have to incorporate certain provisions into its constitutional documents in accordance with Rule 8A. These waivers, including those concerning connected transactions, notifiable transactions and the Corporate Governance Code under Appendix 14, are granted on the basis dual primary listing vs secondary listing the securities of these issuers are traded in Hong Kong as secondary market and therefore not to be taken advantage of to circumvent the Listing Rules that they would otherwise be subject to.

There will be a grace period of 12 months for a Greater China Issuer to comply with the applicable requirements.

Hong Kong to establish a New Secondary Listing Concessionary Route

Failure to comply within the grace period may result dual primary listing vs secondary listing disciplinary action by the Exchange, including a de-listing of the listed shares of the Greater China Issuer.

Confidential Filing of Secondary Listing Applications Paragraph 18 of Practice Note 22 to the Listing Rules requires new listing applicants to submit the Application Proof of their listing document to the Exchange for publication on the Exchange website.

However, a new applicant which has been listed on a recognised overseas exchange for at least five years and has a significantly large market capitalisation at the time of filing its listing application is entitled to make a confidential filing of its Application Proof.

Such applicant is not subject to dual primary listing vs secondary listing publication requirements unless requested to comply lol platinum account price them dual primary listing vs secondary listing the Exchange or the SFC.

Background

All other requirements under the Listing Rules apply unless a waiver is granted. PCAOB has a duty under the US laws to conduct regular inspections to assess compliance of these companies with applicable professional standards.

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However, most of the auditors of Click here China Issuers are located in China — a jurisdiction where the PCAOB had not been able to conduct inspection without the approval of the Chinese authorities. There has been increasing concerns among these Dual primary listing vs secondary listing China Issuers in the fear of being delisted from the NYSE or Nasdaq if they are unable to resolve the situation and meet the PCAOB inspection requirement within the prescribed timeframe.

Dual primary listing vs secondary listing Hong Kong securities market is a good alternative for these Greater China Issuers should they want to move or expand into the secondary market.

Conclusion With the recent growing tension between China and the US, coupled with the tightened source requirements above, the new Chapter dual primary listing vs secondary listing seemed to have come in time.

Dual primary listing vs secondary listing

The relieve dual primary listing vs secondary listing the stringent requirements for secondary listing in Hong Kong definitely makes the Exchange more attractive to Qualifying Issuers, especially those Greater China Issuers, when considering dual primary listing vs secondary listing a secondary listing.

Their oversubscriptions reflect a high demand for these tech giants in the market. We https://tovarreview.ru/account/coinbase-transfer-bitcoin-to-bank-account.html that the mentioned dual primary listing vs secondary listing reforms paves way for US-listed mainland tech giants to list in Hong Kong, and the IPO market shall welcome the homecoming of more Greater China Issuers.

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