21 August 2020
The Exchange received 22 responses from a broad range of respondents. The feedback indicated strong support for the consultation proposals to enhance the listing regime for debt issues to professional investors only (Professional Debt Regime). The Exchange will implement the consultation proposals, with modifications, reflecting comments received. The changes will be effective on 1 November 2020.
Key changes to the related Listing Rules include:
- Raising the existing issuer’s minimum net assets requirement from $100 million to $1 billion;
- Introducing a minimum issuance size of $100 million;
- Requiring issuers to state explicitly in the listing document the intended investor market in Hong Kong are professional investors only;
- Requiring publication of listing documents on the Exchange’s website on the listing date; and
- Introducing other Rules amendments to enhance the regulatory oversight over issuers and guarantors’ in terms of their continuing obligations.
The Consultation Conclusions, respondents’ submissions, amendments to the Main Board Listing Rules and amendments to the GEM Listing Rules are available on the HKEX website.
Read more: https://www.hkex.com.hk/News/Regulatory-Announcements/2020/200821news?sc_lang=en