100 top executives attend Shenzhen seminar on new Hong Kong IPO regime
The seminar on the interpretations and implementations of the new Main Board (MB) Listing Rules organized by the National Public Offering Group (POG) and the Shenzhen office was completed with great acclaims from participants in Shenzhen on 31 May 2018. This seminar was well received and won support from more than 100 senior corporate representatives (including from the industry investment funds) who are based in Shenzhen.
This seminar aims at guiding companies that plan to go public in Hong Kong under the new listing rules. They include biotech companies that do not meet the financial eligibility tests of the MB and companies with weighted voting right structures. It seeks to assist these companies to plan proactively to list in Hong Kong through providing an understanding and interpretation of the requirements under the new rules and guidance letters, the corresponding financial and tax practices as well as new disclosure requirements in the listing prospectus.
Tom Kwok, Shenzhen Office Managing Partner kicked off the seminar and introduced the seminar's background and objectives as well as the opportunities and challenges resulted from Hong Kong's listing regime reform.
Edward Au, Co-Leader of the National POG walked through the regulatory changes to new economy companies following the new repositioning and reform of Hong Kong's IPO market, an overview of Hong Kong's IPO market in the first five months of 2018, an interpretation and actual practices of the new MB Listing Rules using a case study, and the preparations that companies require for an IPO. Jim Chung, Partner of Tax and Legal, presented the major potential tax issues from the perspective of key tax matters that Mainland companies need to be aware of when going public in Hong Kong.
A question and answer session during the seminar provided an opportunity for participants to understand and discuss about different questions and challenges regarding listing in Hong Kong in more depth with our subject matter experts face-to-face. This is in particular for challenges and key matters brought by the new rules.
The National POG plans to organize the seminar of this subject in Shanghai on 21 June 2018 (Thursday) and in Beijing by end of June 2018. Please pay attention to the corresponding invitation to be released in the near future.