Listing Rules relating to connected transactions

Chapter 14A (Main Board) and Chapter 20 (GEM) of the Exchange's Listing Rules contain certain safeguards intended to ensure that the interests of shareholders as a whole are taken into account by a listed issuer when the listed issuer enters into connected transactions... More: Listing Rules relating to connected transactions

Managing the listing process in Hong Kong

An IPO is a transformational event in the life of a company; however they are typically time-consuming, challenging and resource draining. The listing process therefore requires a great deal of preparation, planning and coordination... More: Managing the listing process in Hong Kong

Requirements Regarding Control Over Mining Assets

A mineral company seeking listing on the Exchange must be able to demonstrate that it has the right to actively participate in the exploration for and / or extraction of resources either through control over a majority (by value) of the assets in which it has invested together with adequate rights over the exploration for and / or extraction of resources; or adequate rights arising under arrangements acceptable to the Exchange, which give it sufficient influence in decisions over the exploration for and/or extraction of the resources. Control is normally taken to mean an interest of more than 50% ... More: Requirements Regarding Control Over Mining Assets

Valuation of Mineral Properties

The Listing Rules do not require a valuation report to be provided at the IPO stage. Valuation reports must however be included in the circular to shareholders where mineral or petroleum assets are acquired as part of a major acquisition... More: Valuation of Mineral Properties

listing requirements relating to resources and reserves

A new applicant mineral company will be required to have at least a portfolio of "Indicated Resources" (in the case of minerals) or"Contingent Resources" ( in the case of petroleum) that are identifiable under one of the accepted reporting standards and substantiated in the report of an independent suitably qualified expert... More: listing requirements relating to resources and reserves

Management requirements for mineral companies listed on the Main Board or GEM in Hong Kong

A new applicant mineral company that cannot satisfy the Profit Test, Market Capitalization Test /Revenue Test /Cash Flow Test, or Market Capitalization/Revenue Test described in the section Key Requirements For Listing may still be accepted for listing if it establishes to the Exchange's satisfaction that its directors and senior management, taken together, have a minimum of 5 years' experience relevant to the exploration and/or extraction activity that the mineral company is pursuing... More: Management requirements for mineral companies listed on the Main Board or GEM in Hong Kong

Key Requirements for listing mineral companies on the Main Board of Hong Kong Stock Exchange

To list on the Main Board of the Exchange, the mineral company must have: A trading record of not less than three financial years, management continuity for the last three financial years, ownership continuity for at least the most recent audited financial year, and satisfy one of the Profit Test, Market Capitalization Test /Revenue Test /Cash Flow Test, or Market Capitalization/Revenue Test... More: Key Requirements for listing mineral companies on the Main Board of Hong Kong Stock Exchange

Requirements for listing mineral and petroleum companies in Hong Kong

A mineral company can seek to list by meeting one of the financial track record requirements ("Track Record Tests") set out under Rule 8.05 of the Listing Rules. A mineral company that cannot satisfy one of Track Record Tests such as exploration and pre-production stage companies, may still apply to be listed if it can establish that the combined experience of its directors and senior managers is sufficient and relevant to the exploration for and/or extraction activity that the applicant is pursuing... More: Requirements for listing mineral and petroleum companies in Hong Kong

Cost of listing on the Main Board or GEM in Hong Kong

The cost of listing on the either the Main Board or the GEM will differ according to factors such as the issuer’s size, the amount of funds to be raised, the nature of the listing (i.e. primary, secondary or backdoor listing), and the issuer’s jurisdiction of incorporation... More: Cost of listing on the Main Board or GEM in Hong Kong

Pre-IPO Investments in Hong Kong

A key part of the IPO process is securing subscribers for shares or other securities either before or as part of the IPO. Strategic investors provide valuable interim capital to companies on route to a listing and lend credibility to an offer encouraging further institutional and public interest... More: Pre-IPO Investments in Hong Kong

Listing of Debt Issues to Professional Investors Only

Chapter 37 of the Listing Rules deals with listing debt securities that are offered only to professional investors and not to public investors in Hong Kong. Such debt listings are referred to in the Rules as listings by selective marketing... More: Listing of Debt Issues to Professional Investors Only

Tap Issues, Debt Issuance Programmes and Asset-Backed Securities

Where application is made by an issuer for listing of a tap issue, the Exchange will normally apply the same requirements for each subsequent tranche as applied to the initial tranche. Any listing document issued in connection with a tap issue must specify the maximum nominal amount of debt securities which could be issued ... More: Tap Issues, Debt Issuance Programmes and Asset-Backed Securities

Listing debt securities in Hong Kong – The listing agreement

Pursuant to Listing Rule 26.01, the issuer and the guarantor, in the cases of a guaranteed issue, are required to sign a "Listing Agreement" with the Exchange in the form prescribed and provided by the Exchange by which they undertake to comply with the continuing obligations to which they will be subject as a condition of the listing of their debt securities. These obligations are designed to ensure that issuers keep the holders of their debt securities (and the public) fully informed of all factors which might affect their interests and treat the holders of their debt securities in a proper manner... More: Listing debt securities in Hong Kong – The listing agreement

Hong Kong Listing Document

Issuers are required to prepare a listing document, being a prospectus, a circular and any equivalent document (including a scheme of arrangement and introduction document) issued or proposed to be issued in connection with an application for listing... More: Hong Kong Listing Document

Listing debt securities in Hong Kong – options, warrants and similar rights

Where an application is made for the listing of warrants, the Exchange will normally apply the same requirements as would apply to the underlying securities to be subscribed or purchased. However, where such an application is contemplated, the Exchange should be consulted at the earliest opportunity as to the requirements which will apply... More: Listing debt securities in Hong Kong – options, warrants and similar rights

Basic Conditions for Listing in Hong Kong

The issuer and the guarantor, in the case of a guaranteed issue, must each be duly incorporated or otherwise established under the laws of the place where it is incorporated or otherwise established, and must not be in contravention of those laws and its memorandum and articles of association or equivalent documents. An issuer which is a Hong Kong company must not be a private company within the meaning of section 29 of the Hong Kong Companies Ordinance... More: Basic Conditions for Listing in Hong Kong

Listing Debt Securities in Hong Kong

Debt securities, other than debt issuances to professional investors only, may be brought to listing by a number of methods, namely through an offer for subscription, offer for sale or placing. Debt securities may also be brought to listing by an exchange or a substitution of debt securities for or a conversion of debt securities into other classes of securities or by the exercise of options, warrants or similar rights to subscribe or purchase debt securities... More: Listing Debt Securities in Hong Kong 

Advising sponsors and borrowers on the legal aspects of mining project financing

We are experienced in advising sponsors and borrowers on the legal aspects of mining project financing. We have advised leading PRC and international natural resource companies on their debt offerings. We are also always happy to help junior miners, who may be unfamiliar with the debt financing option, better understand the process so they can make the right choice as to what financing model best suits them... More: Advising sponsors and borrowers on the legal aspects of mining project financing

Advising lenders on the legal aspects of mining project financing

We are experienced in advising lenders on the legal aspects of mining project financing, including senior, mezzanine, subordinated and convertible debt together with more traditional corporate debt financing arrangements. We can also advise on bridge financing and other credit facility arrangements. We have also assisted listed and private companies and financial institutions on debt purchases... More: Advising lenders on the legal aspects of mining project financing