Author Archive

Financial Reporting (Half and Full Year) Disclosure and Reporting Compliance Requirements of Listed Companies on the Hong Kong Stock Exchange (HKEx)

Listed companies on the Hong Kong Stock Exchange (HKEx) are subject to certain financial reporting and disclosure compliance requirements under the Hong Kong Listing Rules. This article sets out briefly what these requirements are.
Distribution of annual report and accounts
Preliminary Announcements of Results – Full Financial Year
LR13.49(1): For annual accounting periods ending on or after 31 [...]

Top 10 IPO Equity Funds Raised on Global Stock Exchanges in 2011

I would like to give you some interesting statistics of 2011 in this article. As most of you know, I specialize in IPO on the Hong Kong Stock Exchange (along with other equity and debt offerings, mergers and acquisitions and private equity transactions). Statistics on capital markets and market conditions are important to me.
Here, I [...]

Christmas ecard and best wishes

It’s the time of year again. On behalf of AskVenture.com, I wish you a merry christmas and happy new year. I made this Christmas ecard so that I could share this festive season with people I know, people I care, and people I miss.
To all entrepreneurs – I hope that you can continue [...]

Listing by introduction vs IPO global offering on the Hong Kong Stock Exchange (HKSE)

This article aims to help you know more about what listing by introduction is, how a company gets listed on the Stock Exchange of Hong Kong (SEHK) by introduction, and what information to look for before buying shares of a company to be listed by introduction.
What is listing by Introduction?
Listing by introduction is one of [...]

A review of the Hong Kong Stock Exchange and IPO market in the year of 2010

Now we’re in the middle of 2011. A lot of people wonder how did the Hong Kong IPO market perform in the year of 2010. Below I’ve extracted the section “The Year 2010 in Review” from HKEx’s factbook. It gives some intereting figures and statistics.
The HKEx markets achieved a sustainable recovery in the second year [...]

Hong Kong IPO – A list of acceptable overseas jurisdictions

The Hong Kong Stock Exchange has formally ruled that the following overseas jurisdictions are acceptable as an issuer’s place of incorporation.

Australia
Bermuda
Brazil
British Virgin Islands
Canada – Alberta
Canada – British Columbia
Canada – Ontario
Cayman Islands
Cyprus
France
Germany
Guernsey
Isle of Man
Italy
Japan
Jersey
Luxmbourg
People’s Republic of China
Singapore
United Kingdom
United States of American – California, State of
As a general note, Cayman Islands, Hong Kong and the PRC are [...]

Hong Kong IPO listed companies minimum public float requirement

What is the minimum public float requirement of a Hong Kong listed company?
At least 25% of the issuer’s total issued share capital must at all times be held by the public. Where the issuer has one class of securities or more, the total securities of the issuer held by the public at the time of [...]

Hong Kong IPO main board listing requirements – profit / market / capitalisation / revenue / cash flow test

I have represented underwriters and issuers in initial public offerings (IPO) in Hong Kong on many occasions. In this article, I give an overview of the key financial listing requirements in relation to listing on the main board of the Hong Kong Stock Exchange.
A new listing applicant must satisfy either the profit test or the [...]

Incorporation of a Hong Kong company limited by shares as a special purpose vehicle (spv) or holding company

Some clients I work with require the incorporation of a Hong Kong limited company in the process of their private equity, M&A or capital markets investments. I have helped a lot of clients incorporate such company which is mainly used as a special purpose vehicle (SPV) or a holding company. In this article, I discuss [...]

Confidentiality agreement or NDA – restricted use of confidential information

This is another post on NDA. I wrote a post on return or destruction of confidential information not long ago. This post is on restricted use of confidential information.
I have only a few points to make.
1. Normally, Seller will be disclosing confidential information not just to Buyer, but also to Buyer’s Representatives. Representatives may include [...]