Entire Section

  • Qualifications for Listing (19.05)

    • 19.05

      The following additional requirements apply:—
      (1)    the Exchange reserves the right, in its absolute discretion, to refuse a listing of securities of an overseas issuer if it believes that it is not in the public interest to list them;
        (a)    [Repealed 1 January 2022]
        (b)    [Repealed 1 January 2022]
      (2)    the overseas issuer must appoint, and maintain throughout the period the overseas issuer's securities are listed on the Exchange the appointment of, a person authorised to accept service of process and notices on its behalf in Hong Kong, and must notify the Exchange of his appointment and any termination of his appointment and details of:—
        (a)    his address for service of process and notices;
        (b)    if different, his place of business or, if he does not maintain a place of business, his residential address;
        (c)    his business or residential telephone number, as the case may be;
        (d)    his email address and facsimile number (if available); and
        (e)    any change in the above particulars;
        Note:  The person appointed under this rule may also be the person authorised to accept service required to be appointed under Part 16 of the Companies Ordinance, if applicable.
      (3)    (a)    in the case of registered securities (other than those transferable by endorsement and delivery), provision must be made for a register of holders to be maintained in Hong Kong, or such other place as the Exchange may agree, and for transfers to be registered locally. The Exchange may, however, consider an alternative proposal for registering transfers for Hong Kong holders in exceptional circumstances; and
        (b)    in the case of bearer securities, provision must be made for the payment of dividends or interest and repayment of capital in Hong Kong, or such other place as the Exchange may agree;
      (4)    unless the Exchange otherwise agrees only securities registered on the Hong Kong register may be traded on the Exchange. In the case of depositary receipts, an issuer is only required to ensure that the depositary maintains a register of holders of the depositary receipts in Hong Kong in order for the depositary receipts to be traded in Hong Kong;
      (5)    where two or more share registers are maintained it will not be necessary for the Hong Kong register to contain particulars of the shares registered on any other register; and
      (6)    where an overseas issuer wishes to obtain its primary listing on the Exchange by way of an introduction in the circumstances set out in rule 7.14(3), it must, if requested to do so by the Exchange, appoint an independent financial adviser acceptable to the Exchange to confirm that the proposals are in the interests of the holders of the securities of the existing listed company or companies.
        (a)    [Repealed 1 January 2022]
        (b)    [Repealed 1 January 2022]
        (c)    [Repealed 1 January 2022]