,Hong Kong

SFC vets 120 listing applications in Q2

This comes as the commission imposes stricter review on applications.

The Securities and Futures Commission (SFC) has vetted a total of 120 listing applications in the second quarter of the year.

This includes five applications from companies with a weighted voting rights structure and 14 from pre-profit biotech companies.

The Commission noted that the Stock Exchange of Hong Kong Limited (SEHK) has intensified efforts against misconduct and improper behaviour in new listings.

“Problematic applications with red flags indicating a lack of genuine investor interest are now subject to heightened scrutiny, and the regulators will object to or reject an application, if necessary,” the SFA said in a statement.

The SFC authorised 39 unit trusts and mutual funds, including 17 Hong Kong-domiciled funds, two investment-linked assurance schemes, one real estate investment trust, and 24 unlisted structured investment products for public offering.

The number of licensees and registrants totalled 47,527, of which 3,174 were licensed corporations.

Moreover, the SFC also strengthened efforts to ensure compliance of companies to regulatory requirements as well as to combat investment schemes.

A total of 71 in-depth inspections of licensed corporations were conducted to review their compliance with regulatory requirements; whilst 2,319 requests were made for trading and account records triggered by untoward price and turnover movements.

The SFC also issued section 179 directions to gather additional information in 28 cases and wrote to detail its concerns in one case as part of its review of corporate disclosures.  

Four corporations and three individuals were disciplined, resulting in total fines of $5m.

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

These five countries have Omricon cases.
The initiatives include accelerating net-zero electricity generation.
InnoClub will provide solutions in three focus areas.
The airline’s cargo yield is also expected to be 2% higher h-o-h in 2H21.
The country received a 9.23 score out of 10.
HK costs are the 9th most expensive in the Asia Pacific.
Employees with digital transformation-related jobs are most likely to benefit.
A government spokesman attributed the increase to entrenched economic recovery.
Carousell said 85% of its HK users have made secondhand purchases in the past.
Expansion plans were greatly expressed by companies from the industrial goods sector.
Winners were recognised via digital presentations held on the 24ᵗʰ and 25ᵗʰ of November.
The Gaw Capital Partners-led consortium will use the loan for the acquisition of office buildings.
The report said about 10.4% of locals are planning to own NFTs in the future.