The SFC announces amendments to the Codes on Takeovers and Mergers and Share Buy-backs (the Codes) to bring them in line with the new listing regime for companies from emerging and innovative sectors.
The new listing regime provides a concessionary route to secondary listing for Grandfathered Greater China Issuers. Under the amendments, gazetted today, the Codes will not apply to these secondary-listed companies unless and until the bulk of trading has moved to Hong Kong and the company is treated as having a dual-primary listing in Hong Kong under the Listing Rules.