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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 [...]
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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, [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
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Confidentiality agreement or NDA – return or destruction of confidential information
Let’s talk about confidentiality agreement (aka non-disclosure agreement or NDA) in this post – specifically on the clause relating to return or destruction of confidential information. There may be a confidentiality clause in a term sheet, but in this post, we are focusing on NDAs. You will almost definitely see a clause relating to return [...]
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Venture capital lawyer or law firm recommendation and referral
I have written a lot of posts on this website about venture capital funding and have received a lot of emails from readers thanking me for such great help – some on the posts I wrote, on advice I gave them through emails, and on the Askventure.com cap table which they can download free from [...]
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Venture capital exits – trade sale vs IPO – compared and analyzed
Way before a venture capitalist invests in a company, he is already thinking how and when to exit from the investment. This article tells you why and compares between the two venture capital exits – trade sale and IPO. Illiquid nature and limited life-span of a VC fund A well-planned exit is particularly important in a [...]
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Download Sample Share Cap Table Template of a Venture Capital Term Sheet
About this cap table This is exactly the kind of cap table that law firms or venture capitalists would use in a venture capital financing transaction. It shows you: 1. Capitalization of a company at founding (before preferred stock financing – Series A financing) 2. Capitalization of a company after preferred stock financing – Series A [...]
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