OREANDA-NEWS. Report on Initial Public Offering Applications, Delisting and Suspensions (As at 30 September 2016). 

New Applications Accepted    

  

 

 
 

a. 

September 2016

      
    (i)

Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules
 

18

19

37
    (ii)

Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules
 

7

N/A

7
    (iii)

Application(s) for transfer of listing from GEM to Main Board
 
 

1

N/A

1
    (iv)

Deemed new applicant(s) pursuant to Main Board Listing Rule 8.21C or Main Board Listing Rule 14.84, and very substantial acquisition(s) treated as reverse takeover(s) pursuant to Main Board Listing Rule 14.06(6)/GEM Listing Rule 19.06(6)

0

________

0

________

0

________

Total

26

19

45
 


b.


2016 Year-to-date

      
    (i)

Application(s) made by companies pursuant to Chapter 8 of the Main Board Listing Rules/Chapter 11 of the GEM Listing Rules
 

104

83

187
    (ii)

Application(s) made by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules
 

31

N/A

31
    (iii)

Application(s) for transfer of listing from GEM to Main Board 
 
 

12

N/A

12
    (iv)

Deemed new applicant(s) pursuant to Main Board Listing Rule 8.21C or Main Board Listing Rule 14.84, and very substantial acquisition(s) treated as reverse takeover(s) pursuant to Main Board Listing Rule 14.06(6)/GEM Listing Rule 19.06(6)   

2

 

_________

0

 

_________

2

 

_________

Total

149

83

232

Approvals in principle granted(1)

      
 

a.

September 2016
 

19

9

28
 

b.

2016 Year-to-date

89

35

124

Active applications(1)  (as at 30 September 2016)

      
1.

Under processing
 

      
  a.

New applications accepted since 1 January 2016
 

73

59

132
  b.

Others

3

_________

5

_________

8

_________
   

Sub-total

76

64

140


2.


Approval in principle granted 
 

      
  a.

Approvals granted since 1 January 2016
 

18

9

27
  b.

Others

0

_________

0

_________

0

_________

Total

94

73

167

1.

Lapsed
 

      
  a.

Approval in principle granted but not listed prior to application lapsed
 

15

7

22
  b.

Others
 

31

31

62
2.

Rejected
 

4

5

9
3.

Withdrawn
 

3

1

4
4.

Returned(3)
 

1
_________

3
_________

4
_________
 

Sub-total
 

54

47

101
 

Offset by:
 

      
5. Renewals(4)
 

(24)

(26)

(50)
6.

Returned cases resubmitted(5)

(0)
_________

(0)
_________

(0)
_________

Total

30

21

51

No. of new listings (since 1 January 2016)

  


 


 
    (i)

Companies listed pursuant to Chapter 8 of the Main Board Listing Rules/ Chapter 11 of the GEM Listing Rules 
 

46

25

71
    (ii)

Investment vehicle(s) listed pursuant to Chapters 20 and 21 of the Main Board Listing Rules 
 

25

N/A

25
    (iii)

Transfer of listing from GEM to Main Board  
 

4

N/A

4
    (iv)

Deemed new listing(s) pursuant to Main Board Listing Rule 8.21C or Main Board Listing Rule 14.84, and very substantial acquisition(s) treated as reverse takeover(s) pursuant to Main Board Listing Rule 14.06(6)/GEM Listing Rule 19.06(6)

2

_________

0

 _________

2

_________

Total

77

25

102

  a.

September 2016
 

14
  b. Average number of days taken between the date of application and the date of issue of related first comment letter

17
        

Guidance issued to potential new listing applicants or their advisers on matters relating to the Listing Rules
 

  
  a. September 2016
 

11
  b.

Average number of days taken between the date of request for guidance and the date of issue of written response(7)

6

(1)

Includes application(s) by investment vehicle(s) pursuant to Chapters 20 and 21 of the Main Board Listing Rules, application(s) for transfer of listing from GEM to the Main Board, and deemed new applicant(s) pursuant to Main Board Listing Rule 8.21C or Main Board Listing Rule 14.84, and very substantial acquisition(s) treated as reverse takeover(s) pursuant to Main Board Listing Rule 14.06(6)/GEM Listing Rule 19.06(6).
(2)

Includes any application (or renewal) not approved, returned, rejected or withdrawn within six months from date of application. 

(3)

 Applications accepted for vetting but subsequently returned on the ground that the information in the listing application proof or related documents is not substantially complete.

(4)

Includes all applications accepted within three months following a lapsed, rejected or withdrawn application by the same applicant. 
(5) Applications resubmitted to the Exchange after an 8-week moratorium from the date of the return letter.

(6)

 First comment letters are the first letters issued by Listing Department staff that contain the comments on the respective listing applications. It only covers the first comment letters issued this month. For reports issued from January 2011 onwards, non-business days have been subtracted from "the average number of days taken".  The figures exclude cases for a transfer of listing from GEM to the Main Board. If included, the number of first comment letters issued is 15 and the average number of days taken is 17.

(7)

 Covers only the guidance letters issued this month.  For the reports issued from January 2011 onwards, non-business days have been subtracted from "the average number of days taken".


Delisting and Suspension Information


(As at 30 September 2016)
(a)

Number of delisted companies (since 1 January 2016)

 

    
  a.

Withdrawal of listing pursuant to privatisation
 

2

0

2
  b.

Transfer of listing from GEM to Main Board 
  

N/A

4

4
  c.

Cancellation of listing pursuant to delisting procedures under the Listing Rules
 

1

0

1
  d.

Voluntary withdrawal of listing

4
_________

0
_________

4
_________

Total

7

4

11

(b)

Number of companies in suspension for three months or more
(as at 30 September 2016)  

      
  a.

Companies not in delisting procedures
 

32

1

33
  b.

Main Board companies in delisting procedures:
 

 

 

 
   

-  first stage of delisting(8) 
  

1

N/A

1
   

-  second stage of delisting(9) 
  

8

N/A

8
   

-  third stage of delisting(9)
   

9

N/A

9
  c.

GEM companies given 6 months' notice for delisting 
  

N/A

0

0
  d.

Delisting approved by the Listing Committee
  

0

3*

3
  e.

Resumption proposals approved in principle by the Exchange subject to fulfillment of conditions 

1
 
_________

0

_________

1

_________

Total

51

4

55


Other Information
(As at 30 September 2016)

(c)

Number of listed companies (as at 30 September 2016)
 

1,687

243

1,930

(8)

Where the Exchange has issued a letter to the long-suspended company informing it of the commencement of the delisting procedures and that the Exchange will consider placing the company in the second stage of delisting if the company fails to submit a viable resumption proposal by the deadline set out in the letter.

(9)

Long-suspended Main Board companies having problems with sufficient operations or assets are placed in the second and third stages of delisting under Practice Note 17 to the Main Board Listing Rules.
   
* The companies applied to the Exchange to review the delisting decisions.  The review procedures are in progress.

This report is updated on the last trading day of each month.