香港优秀上市服务-香港上市介绍

An introduction to listing in Hong Kong IPO roadmapWhere to listIPO readiness considerationsListing requirements on Hong Kong Stock Exchange (HKEX)Main Board Listing Rules related to biotech companies and innovativecompanies with weighted voting rights (WVR) structuresDual primary/secondary listingsListing regime for Specialist Technology Companies3456789 Not all businesses are suited to life in the public eye. For many fast-growing private companies, an IPO can raise thecapital needed to accelerate growth and achieve market leadership. An IPO is the first sale of a company’s shares tothe public and the listing of the shares on a stock exchange. It allows a company to raise capital in order to build its Where to list Which capital market, stock exchange and listing segment is most relevant? Companies can choose from more than a hundred stock exchanges and listing options worldwide. But where is the The factors that require careful examination include: •Initial and ongoingcosts Other factors that motivate companies to go public outside their home market vary according to their country ofincorporation. These include regulatory requirements, uncertainties regarding the listing process, and waiting or The IPO readiness assessment workshop can include up to eight modules tailored toyour specific needs. Listing requirements onHong Kong Stock Exchange (HKEX) Companies may seek a listing on either the HKEX’s Main Board or GEM depending on criteria such as company size andprofitability. The HKEX requires that a Main Board listing applicant must fulfill the financial criteria under either the “Profit Main Board Listing Rules related to biotech companies (Chapter 18A) and innovative companies with weighted voting rights(WVR) structures (Chapter 8A): Dual primary/secondary listings Overseas issuers (i.e., neither a China Mainland nor Hong Kong issuer) listed elsewhere may consider seeking either a dual primarylisting or secondary listing in Hong Kong. The requirements of dual primary listing and secondary listing are outlined below: 2.Grandfathered Greater China Issuer:a Greater China Issuer that was (a) primary listed on a Qualifying Exchange 5on or before 15 December 2017; or(b) primary listed on a Qualifying Exchange after 15 December 2017, but on or before 30 October 2020 and controlled by corporate WVR beneficiaries 4.Qualifying Issuer:an overseas issuer primary listed on a Qualifying Exchange 6.Recognised Stock Exchange:the main market of a stock exchange that is included in a list of Recognised Stock Exchanges published on HKEX’s websiteas updated from time to time. The Qualifying Exchanges are also Recognised Stock Exchanges. Listing regime for Specialist Technology Companies A Specialist Technology Company is a company primarily engaged in the research and development of, and the The HKEX has divided Specialist Technology Companies into two categories, namely: those that have achieved meaningful commercialisation of their Specialist Technology Products (as indicated by their revenue those that are primarily engaged in R&D to bring their Specialist Technology Products to commercialisation or have not yet Listing Rules related to Specialist Technology Companies：: Principal steps involved in Main Boardlisting and EY services provided Listing application preparation Initial phase preparations •Hold listing assessmentworkshop•Assist in planning theGroup reorganization •Complete the application proof of prospectus•Complete the audited financial statements based onmainland China accounting standards and corporateaccounting standards for the past three financial years (only applicable to H-share companies)•Complete the audited financial statements based onHKFRS (or IFRS) for the past three financial years and •Advise on financial and accounting issuesrelated to group reorganization•Advise on financial and accounting issuesrelated to the company’s fund raisingstrategies and methods•Advise on establishing accounting systems,accounting policies, financial statementspreparation and consolidation procedures, •Carry out digitalized analysis of the companyto understand its competitiveness and adviseon formulation of its digitized strategies•Advise on capital market plans designed bythe company for optimizing efficiency•Advise on the company’s IPO businessstrategic planning: grasp market opportunitiesfrom the perspective of the company’sstrategic vision and goals, advise on business EY services Formal submission to HKEX** At time of listing application • Submit the listing application form (Form A1) and draftlisting timetable• File documents with the China Securities RegulatoryCommission (CSRC) within 3 working days aftersubmitting From A1*• Submit application proof of the prospectus and, unlessthe confidential filing option is available, publish it• Submit final or advanced draft of all requests for waiverfrom requirements of Listing Rules and Companies Listing in progress •Hearing•Publis