Versions

 

3A.32

(1) Rules 3A.33 to 3A.36 and rules 3A.38, 3A.41(1) and 3A.42 are applicable to the following types of offering involving bookbuilding activities (as defined under the Code of Conduct):
 
(a) a placing of equity securities or interests to be listed on the Exchange, including:
 
(i) a placing in connection with a New Listing (whether by way of a primary listing or secondary listing); and
 
(ii) a placing of equity securities or interests of a class new to listing or new equity securities or interests of a class already listed under a general or specific mandate in accordance with rule 7.12A or other relevant codes and guidelines; and
 
(b) a placing of listed equity securities or interests by an existing holder of equity securities or interests if it is accompanied by a top-up subscription by the existing holder of equity securities or interests for new equity securities or interests in the issuer.
 
(2) Note to rule 3A.02 and rules 3A.37, 3A.40, 3A.41(2) and 3A.43 to 3A.46 are additional requirements applicable only to placings of equity securities or interests that fall under rule 3A.32(1)(a)(i) above.
 
Notes:
 
(1) For the purpose of rule 3A.32, “equity securities or interests” shall include equity securities, interests in a REIT, stapled securities and securities of an investment company (as defined in rule 21.01).
 
(2) For the avoidance of doubt, requirements under rule 3A.32 are not applicable to:
 
(a) bilateral agreements or arrangements between the issuer and the investors (also referred to as “club deals”);
 
(b) transactions where only one or several investors are involved and the terms of the offering are negotiated and agreed directly between the issuer and the investors (also referred to as “private placements”); and
 
(c) transactions where equity securities or interests are allocated to investors on a pre-determined basis at a pre-determined price.