Listing sponsorship services
As required by the Stock Exchange, a listing applicant must appoint a sponsor to assist with its listing application while applying for listing on the Main Board and GEM. Pursuant to Rule 3A.11 of the Listing Rules (or Rule 6A.11 of the GEM Listing Rules), the role of a Hong Kong IPO sponsor must:
- be closely involved in the preparation of the new applicant's listing documents;
- conduct reasonable due diligence to put itself in a position to be able to make the declaration as required by the Listing Rules (or the GEM Listing Rules);
- ensure the requirements in the Listing Rules (or the GEM Listing Rules) are complied with;
- use reasonable endeavours to address all matters raised by the Stock Exchange in connection with the listing application including providing to the Stock Exchange, in a timely manner, such information as the Stock Exchange may reasonably require for the purpose of verifying whether the Listing Rules (or the GEM Listing Rules) are being or have been complied with by the sponsor, the new applicant and the new applicant's directors;
- accompany the new applicant to any meetings with the Stock Exchange unless otherwise requested by the Stock Exchange, and attend any other meetings and participate in any other discussions with the Stock Exchange as requested by the Stock Exchange; and
- comply with the terms of the undertaking and statement of independence given to the Stock Exchange by the Hong Kong IPO sponsor under the Listing Rules (or the GEM Listing Rules).
Hong Kong IPO sponsorship
We are a Hong Kong IPO sponsor acting as the sole and joint sponsor for both Main Board and GEM listing applicants. We offer our clients the most feasible listing proposal given our familiarity with the Hong Kong corporate finance industry, rules and regulations and market practices.
Our comprehensive Hong Kong IPO sponsorship services include, among others:
- coordinating the entire IPO listing exercise and work of the other professional parties;
- formulating listing plan, advising on corporate reorganisation and performing due diligence;
- providing continuous professional guidance on listing rules and other related regulatory requirements;
- assisting in preparing listing documents and roadshow materials;
- submitting client’s listing application to the Stock Exchange and the Securities and Futures Commission (“SFC”) and handling related enquiries; and
- formulating the plan and coordinating the share offer and fund raising arrangement.
Spin-off listing sponsorship
A spin-off is a separate listing of part of an existing listed company’s businesses or assets. A listed company creates a new spin-off entity so it can focus its resources on a particular business segment or with a particular geographical location, which can pursue a strategy independent from that of such listed parent company with greater flexibility. The streamlined corporate organisation of the new spin-off entity may also attract more investors who would not have invested in the company due to the relatively bulky structure with high complexity of revenue structure. Under this situation, spin-off listing not only can increase business focus, but also alleviate market confusion, attract new investors and release latent shareholder value.
Our comprehensive spin-off listing sponsorship services include, among others:
- coordinating the entire spin-off listing exercise and work of the other professional parties;
- providing restructuring opinions for spin-off listing purposes;
- formulating listing plan and performing due diligence;
- assisting in the transition of shares of existing shareholders;
- assisting in preparing listing documents and roadshow materials; and
- submitting client’s listing application to the Stock Exchange and the SFC and handling related enquiries.
Transfer of listing (from GEM to Main Board) sponsorship
GEM listed companies who aim to transfer from GEM to Main Board must appoint a sponsor to conduct due diligence in connection with its transfer of listing. Main Board listed issuers generally enjoy easier access to equity and debt financing comparing with GEM listed issuers, therefore, transfer of listing from GEM to Main Board could help the company on its future development plan and expansion of business scale. Regardless of whether our client is an Eligible Issuer (as defined in the Listing Rules), we are able to provide a tailored solution for transfer of listing plan for our client.
Our comprehensive transfer of listing sponsorship services include, among others:
- coordinating the entire transfer of listing exercise and work of the other professional parties;
- formulating the transfer of listing plan and performing due diligence;
- developing strategies in fulfilling transfer of listing requirements;
- assisting in preparing transfer application documents;
- seeking and referring strategic investors to ensure number and concentration of shareholders to meet the Main Board listing requirements; and
- submitting client’s listing application to the Stock Exchange and the SFC and handling related enquiries.
Overseas listing
We procure abundant resources for overseas listing and have strong business relationships with overseas and domestics investment institutions, underwriters and other professional working parties. We formulate the most suitable overseas listing and fundraising plan for our clients and assist them in listing on overseas platforms successfully and connect with international capital markets such as Nasdaq Capital Market in the United States and Catalist of Singapore Stock Exchange to address different needs of our clients.
Our comprehensive overseas listing advisory services include, among others:
- coordinating the entire overseas listing exercise and work of the other professional parties;
- assisting in corporate reorganisation and restructuring for listing;
- formulating listing timetable and plan;
- assisting in reviewing the listing documents and related submission documents to the regulators; and
- assisting in handling queries from regulators on listing application.
