CCASS provides matching of trade and settlement details between participants on a batch basis. CCASS Settlement Process Flowchart (pdf). CCASS Settlement Process Flowchart Physical: Note applicable. Exchange trades and trades between brokers/custodian banks and custodian banks are all . If clearing and settlement of GEM securities is done through CCASS, under the existing CCASS Rules and. Operational Procedures, Hongkong Clearing has the .

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Hyperlinked cross references are now available in the HTML versions. This section comprises guidance letter to new applicants and listed issuers on the Listing Rules and other listing matters. Guidance Letters for New Applicants. Guidance Letters for Listed Issuers. Please visit Archive to view marked-up versions and versions that have been superseded or withdrawn.

Download the consolidated index here. This letter does not override the Listing Rules and is not a substitute for advice from qualified professional advisers. If there is any conflict or inconsistency between this letter and the Listing Rules, the Listing Rules prevail. You may consult the Listing Department on a confidential basis for an interpretation of the Listing Rules or this letter. You may consult the Listing Division on a confidential basis for an interpretation of the Listing Rules, or this letter.

Unless otherwise specified, defined terms in the Listing Rules shall have the same meanings in this letter. You may consult the Listing Department on a confidential basis for an interpretation of the Listing Rules, or this letter.

The Exchange may, at its discretion, recognise another institution, body or committee as an Authorised Institution on a case by case basis. Where a waiver is granted by the Exchange, full disclosure must be made in the prospectus.

The applicant must obtain positive confirmation from the investors confirming their desire to proceed before it can bind them to their applications.

Settlement process – Hong Kong

If the subscribers do not settldment their applications, their applications will be rejected. These templates are for reference only. Listing applicants and their sponsors should exercise judgment as to the applicability of the suggested templates to their cases. For Illustrative purpose, the following fixed offer price and offer price range are used in the suggested templates: A4 states that the depositary receipt framework applies to the Main Board only and depositary receipts are not allowed to be listed on GEM at this stage.

Furthermore, it is assumed that none of the holders of voting interests in the listing applicants in these examples have identified themselves as groups of controlling shareholders in their listing applications.

C respectively, and exclusively hold the individuals’ interests in the listing applicant and have no operations. C and exclusively holds their interests in the listing applicant and has no operations. A listed issuer, for example, would not be an SPV. List of information that might be included in the “Summary and Highlights” section. Provide information on an applicant’s current principal business activities including any change in the business focus during and after the track record periodand how such activities generate revenue.

Provide information on shareholders and investors that may control fllwchart have an influence on an applicant:. Provide an update on an applicant’s operations and financial position since the latest audited financial period. Enable investors to assess the impact of listing expenses on an applicant’s financial performance. Information on an applicant’s historical significant distributions and expected dividend payout ratio to enable investors to assess its dividend payout trend and intentions.

Highlights of any other significant matters or issues affecting an applicant or the offering. Production Only if applicable to the applicant’s business. Subcontracting Only if applicable to the flowcnart business. Product returns and warranty Only if applicable to the applicant’s business. Health, work safety, social and environmental matters. The contents of the printed prospectus are identical to the electronic form of the prospectus which can be accessed and downloaded from the websites of the Company at [Company’s website] and the Stock Exchange at www.

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Members ccazs the public who wish to obtain a copy of the printed prospectus may obtain a copy, free of charge, upon request during normal business hours from [time and date] until [time ccasa date] at the following locations: List of certain other guidance letters published by the Exchange relating to disclosure in listing documents. These remain in full force and effect. All independent non-executive directors must be identified when an applicant submits its listing application, but their actual appointments may take place closer to the time the listing document is issued.

Non- discretionary Basis Conditions. Updated in February The relevant amendments to the Listing Rules became effective on 1 February The Company will be issuing the Prospectus on or around [date] in connection with the proposed [Global Offering]. From [time, date] until [time, date], an electronic form Prospectus which contents are identical to the printed Prospectus can be accessed and downloaded from the websites of the Company at [ Company’s website ] and the Stock Exchange at www.

Settlement process – Hong Kong

Members of the procees may obtain a copy of the printed Prospectus, free of charge, upon request during normal business hours from [time, date] until [time, date] at the following locations:. The contents of the printed prospectus are identical to the electronic form prospectus which can be accessed and downloaded from the websites of the Company at [ Company’s website ] and the Stock Exchange at www.

Members of the public may obtain a copy procwss the printed prospectus, free of charge, upon request during normal stetlement hours from [time, date] until [time, date] at the following locations:. Guidance on disclosure in the “How to Apply” section profess the Prospectus. During normal business hours from [time, date] until [time, date], at least three copies of the printed prospectus will be available for inspection at every location where the WHITE and YELLOW Application Forms [and the [color of application form] Application Forms] are distributed as set out below.

The following FAQs are intended to assist issuers in meeting their obligations in relation to an MMO particularly in situations not explicitly specified or where further clarification may be desirable. These FAQs are not a substitute for the Class Exemption Notice or the Listing Rules or such advice, and readers should refer to the Class Exemption Notice and the Listing Rules to understand the primary obligations cdass, where necessary, seek qualified professional advice.

This FAQ should fflowchart be construed as being definitive and applicable to all cases where the scenario may at first appear similar. In any given case, regard must be had to all the relevant facts and circumstances. Folwchart Exchange requires the following documents to be submitted and administrative matters to be followed at different stages of the application process.

Please refer to the Rules for the actual content. According to the Code on Real Estate Investment Trusts, the listing agent for a Pgocess applicant is in effect assuming the responsibilities of, and discharging a function no different from, the sponsor of an initial public offering.

Open-ended Listed CIS Issuers are not required to file listing application for further issues after listing. If there is flowcahrt conflict or flowchwrt between this letter and the Listing Rules, the Listing Rules shall prevail.

You may consult the Listing Department on a confidential basis for an interpretation of the Listing Rules flowwchart specific issues raised in this guidance letter. Accordingly, in such circumstances the name of the reporting accountants or other accounting firm and details of their work and findings may be prevented from being quoted or referenced in the listing document.

One circumstance in which internal controls work may be referenced in the listing document is where it is practicable for the applicant and the sponsor to additionally and separately engage the reporting accountants or other accounting firm to also perform an assurance engagement in relation to internal controls. Any lapsed application Any withdrawn application Any rejected application. I hereby declare that I am a resident of Hong Kong or I am not prohibited by any vlowchart and regulations from gaining access to the applicant’s documents referred to settle,ent the above warning statement and I confirm that I have read the warning statement before proceeding to the next web page.

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No reliance should be placed on the [media reports identified]. This announcement does not constitute a prospectus, offering circular, notice, circular, brochure or advertisement offering to sell settlment securities to the public in any jurisdiction. It is also not an invitation to the public to make offers to subscribe for or purchase any securities, nor is it calculated to invite offers by the public to subscribe for or purchase any securities.

This announcement is made by the order of the Company. The Company’s Board of Directors collectively and individually accept responsibility for the accuracy of this announcement. The applicant must ensure that the statement does not i include information that will constitute a prospectus under section 2 1 of the Companies Ordinance 1 as amended from time to time Cap.

Please assign us a company case number for submission of the relevant Application Proof. Please contact [name of the sponsor’s responsible person] on [telephone number and email address].

Please submit by 6: Added in February For instance, a premium listing on the London Stock Exchange would meet the “main market” definition. The following sets out the disclosure requirements for a substantially complete AP-Vetting and the information that must be redacted for the purpose of publication on the Exchange’s website i. Redacting any additional information or otherwise failing to include the required disclosure described below unless it is not applicable may lead to a listing application being returned to the applicant as not substantially complete under Main Board Rule 9.

Further, the Exchange may suspend vetting a listing application for up to a month for failure to ccaes from an AP-Publication information which must be redacted 3. Updated in July For the purposes of the stub period financial information under this guidance letter, both condensed financial statements or complete set of financial statements are acceptable as long as they comply with the requirements under notes 1 to 3 of paragraph 3.

For the avoidance of doubt, a if the information is permitted to be omitted from the AP-Vetting, it should not be disclosed in the AP-Publication; and b any information required to be redacted should be consistently redacted throughout the AP-Vetting. Redaction of information in a PHIP should follow the same principles. Updated in November For the avoidance of doubt, if such information is available, it has to be disclosed when settlemnt AP-Vetting is submitted.

For the avoidance of doubt, the section headings should be left in an AP-Publication even where the content of the whole section is deleted.

Updated in June Form A1 ; GEM: Added in July In any event, at least one sponsor of an applicant must be independent of the applicant under Main Board Rule 3A. The Exchange requires the following documents to be submitted and administrative matters to be followed at different cass of the application process: Please refer to Listing Decisions http: Level 1 inputs are quoted prices unadjusted in active markets for identical assets or liabilities that the entity can access at the measurement date; Level 2 inputs are inputs other than quoted settlemenh included within Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 inputs are unobservable inputs for the asset or liability Source: Such activity covers a diverse range of activities, for example, raising livestock, forestry, annual or perennial cropping, cultivating orchards and plantations, floriculture, and aquaculture including fish farming.

Listing Rules and Guidance: Contents Rules and Guidance Listing Rules. Interpretation and Guidance Frequently Asked Questions. Back Custom print Search You need the Flash plugin.

Download Macromedia Flowchrat Player. Guidance Letters This section comprises guidance letter to new applicants and listed issuers on the Listing Rules and other listing matters.