Exchange Releases Guidelines to Facilitate Listing of Emerging and Innovative Industrial Companies – ET Net

"Economic Information Bulletin of the "News Agency" Hong Kong Stock Exchange (00388) A letter-guide has been published today to guide candidates in the Internet technology industry (19459011) or operating primarily in Internet mode.
After lengthy consultations on the list of emerging and innovative industrial companies, the Exchange announced on April 24 this year that the "Main Rules of the Office Board
" added three new chapters to allow these companies to become public. In addition to the above-mentioned new chapters, those who responded to the consultation also invited the Exchange to modify the Listing Rules so that the provisions of
could reflect the characteristics of emerging and innovative industrial companies, requiring in particular that the exchange be compatible. Internet technology companies are generally highly dependent on the parent company (or another connected person 1) or the Internet platform
operated by major vendors, especially Internet technology companies must attract and retain their employees. It is difficult for Internet technology companies to demonstrate compliance with laws and regulations that are not fully established in the industry
.
The guidelines published today are changes to the stock market after the revision of its rules and guidelines on the above issues. According to the guidelines of the Exchange
: If the plaintiff proves that certain conditions are met (for example, the dominant Internet platform based on the operation of the parent company is the norm in the industry),
can be highly dependent on the parent company. Suppliers will still be allowed to be listed in the case of large customers, they will benefit from an individual exemption for the applicants listed
which will allow them to use the formula to calculate the annual upper limit of continuing transactions rather than a fixed amount
Limits, waivers may be granted to applicants for listing: (i) a higher cap on the percentage of stock options that they do not have. have not granted, and
(ii) allow their incentive plans to be exercised for more than ten years And if the laws and regulations applicable to the plaintiff are still being formulated and that the chances of 39. Short-term formal legislation is not great, legal opinions should not cover laws and regulations that have not yet been implemented. Shen
asked the person to disclose the relevant risks in the listing document is sufficient. (cy)