On February 23, 2018, the Stock Exchange of Hong Kong Limited (HKEX) published its consultation conclusions regarding a new chapter of its listing rules to facilitate the listings of pre-revenue biotech companies in Hong...more
Despite the impact of COVID-19 and other recent developments in Hong Kong, the city’s role as a center for China-based companies to raise capital became even more important in 2020. The momentum of several trends that began...more
1/29/2021
/ Biotechnology ,
Capital Markets ,
Capital Raising ,
China ,
Foreign Relations ,
HKEx ,
Hong Kong ,
Hong Kong Stock Exchange ,
Initial Public Offering (IPO) ,
PCAOB ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC)
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This update provides an overview of key regulatory developments in the past three months relevant to companies listed, or planning to list, on The Stock Exchange of Hong Kong Limited (HKEx), and their advisers. In...more
This update provides an overview of key regulatory developments in the past three months relevant to companies listed, or planning to list, on The Stock Exchange of Hong Kong Limited (HKEx), and their advisers. In particular,...more
7/14/2020
/ Acquisitions ,
Amended Rules ,
Biotechnology ,
Board of Directors ,
Censures ,
Corporate Executives ,
Enforcement Actions ,
False Statements ,
Hang Seng China Enterprises Index (HSCEI) ,
Hang Seng Index (HSI) ,
HKEx ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Hong Kong Stock Exchange ,
Internal Controls ,
Listing Applications ,
Listing Rules ,
Medical Devices ,
Medical Research ,
Mergers ,
Misappropriation ,
Misleading Statements ,
Pharmaceutical Industry ,
Publicly-Traded Companies ,
Sanctions ,
Secondary Listings ,
SFC ,
Shareholders ,
Takeovers ,
Weighted Voting Rights (WVR)
Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more
1/30/2020
/ Acquisitions ,
Administrative Procedure Act ,
Anti-Discrimination Policies ,
Anti-Harassment Policies ,
Anti-Kickback Statute ,
Antitrust Investigations ,
Appeals ,
Arbitration Awards ,
Attorney General ,
Backstop Agreements ,
BEPS ,
BitLicense ,
Blockchain ,
Board of Directors ,
Bonds ,
Capital Markets ,
CFIUS ,
CFTC ,
Chapter 11 ,
Claim Preclusion ,
Class Action ,
Commercial Bankruptcy ,
Common Stock ,
Congressional Investigations & Hearings ,
Congressional Subpoenas ,
Consumer Financial Protection Bureau (CFPB) ,
Cooperation Agreement ,
Copyright ,
Corporate Governance ,
Corporate Restructuring ,
Corporate Social Responsibility ,
Corporate Taxes ,
Corwin Doctrine ,
Covenant Lite Deals ,
Creditors ,
Cross-Border Transactions ,
DACA ,
DE Supreme Court ,
Debt Financing ,
Debtors ,
Department of Justice (DOJ) ,
Dischargeable Debts ,
Disgorgement ,
Disparate Impact ,
Dodd-Frank ,
Down Rounds ,
Drug Pricing ,
EBITDA ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
Employment Discrimination ,
Enforcement Actions ,
Enforcement of Foreign Judgments ,
Enterprise Act 2002 ,
Environmental Social & Governance (ESG) ,
EU ,
Fair Housing Act (FHA) ,
Federal Trade Commission (FTC) ,
FinTech ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Foreign Issuers ,
FRCP 23 ,
General Data Protection Regulation (GDPR) ,
General Elections ,
GILTI tax ,
High-Yield Markets ,
Hong Kong ,
Hong Kong Stock Exchange ,
Individual Accountability ,
Initial Public Offering (IPO) ,
Intellectual Property Litigation ,
Intercreditor Agreements ,
International Arbitration ,
International Litigation ,
IRS ,
Issue Preclusion ,
Japan ,
Joint Venture ,
Legislative Agendas ,
Life Sciences ,
Listing Rules ,
Litigation Strategies ,
Make-Whole Premium ,
Mergers ,
MFW ,
Multinationals ,
National Security ,
PCAOB ,
Pharmaceutical Industry ,
Political Parties ,
Preferred Shares ,
Private Offerings ,
Privately Held Corporations ,
Proxy Advisory Firms ,
Publicly-Traded Companies ,
Refinancing ,
Regulatory Agenda ,
Reporting Requirements ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Separation of Powers ,
Shareholder Activism ,
Shareholder Proposals ,
Shareholders ,
Split of Authority ,
State Labor Laws ,
Stock Drop Litigation ,
Tax Cuts and Jobs Act ,
Tax Litigation ,
Technology Sector ,
Third-Party Release Agrements ,
Transparency ,
UK ,
UK Brexit ,
Valuation ,
White Collar Crimes
Leading Chinese e-commerce company Alibaba, which has a primary listing on the New York Stock Exchange, made its long-awaited Hong Kong Stock Exchange (HKEx) debut in November 2019. This marked the first secondary listing in...more
1/23/2020
/ China ,
Emerging Technology Companies ,
Foreign Issuers ,
Hong Kong ,
Hong Kong Stock Exchange ,
Innovative Technology ,
Listing Rules ,
New Rules ,
Popular ,
Publicly-Traded Companies ,
Secondary Listings ,
Securities ,
Shanghai Stock Exchange ,
Shenzhen Stock Exchange (SZSE) ,
Stock Connect ,
Weighted Voting Rights (WVR)
This update provides an overview of key regulatory developments in the past three months relevant to companies listed, or planning to list, on The Stock Exchange of Hong Kong Limited (HKEx), and their advisers. In particular,...more
1/8/2020
/ Acquisitions ,
Annual Reports ,
Beneficial Owner ,
Board of Directors ,
Breach of Duty ,
Censures ,
Compensation ,
Complex Corporate Transactions ,
Conflicts of Interest ,
Controlling Person ,
Criminal Convictions ,
Cross-Border Transactions ,
Debt Securities ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Failure to Cooperate ,
Filing Deadlines ,
Foreign Acquisitions ,
Foreign Offerings ,
HKEx ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Hong Kong Securities Clearing Company Limited (HKSCC) ,
Hong Kong Stock Exchange ,
Insider Trading ,
Investment Adviser ,
Listing Rules ,
Mandatory Disclosure Rules ,
Materiality ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Reporting Requirements ,
Secondary Listings ,
Shareholder Approval ,
Trial Court Orders
This update provides an overview of recent developments that will affect preparation of annual results and annual reports for companies listed on The Stock Exchange of Hong Kong Limited (HKEX).
In particular, it covers...more
1/6/2020
/ Annual Reports ,
Biotechnology ,
Capital Requirements ,
Committee Meetings ,
Corporate Governance ,
Disclosure Requirements ,
Dual Class Share Structures ,
EBITDA ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Financial Statements ,
Foreign Corporations ,
Foreign Issuers ,
HKEx ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Hong Kong Stock Exchange ,
Investment Funds ,
Listing Rules ,
Materiality ,
Non-GAAP Financial Measures ,
Publicly-Traded Companies ,
Secondary Listings ,
Shareholder Meetings ,
Trade Suspensions ,
Voting Rights
This update provides an overview of key regulatory developments in the past three months relevant to companies listed, or planning to list, on The Stock Exchange of Hong Kong Limited (HKEx), and their advisers. In particular,...more
10/8/2019
/ Acquisitions ,
Censures ,
Consultation Periods ,
Corporate Issuers ,
Disclosure Requirements ,
Enforcement Actions ,
Fines ,
Foreign Issuers ,
HKEx ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Hong Kong Stock Exchange ,
Initial Public Offering (IPO) ,
Listing Rules ,
Public Consultations ,
Security Token Offering (STOs) ,
Stock Connect ,
Takeovers
On 26 July 2019, The Stock Exchange of Hong Kong Limited (HKEx) published conclusions to its consultation paper regarding backdoor listings, continuing listing criteria and other related Listing Rule amendments. The...more
8/2/2019
/ Amended Rules ,
Bright-Line Rule ,
Hong Kong ,
Hong Kong Stock Exchange ,
Listing Rules ,
Listing Standards ,
Publicly-Traded Companies ,
Reverse Takeovers ,
Securities Regulation ,
Securities Transactions ,
Shell Corporations
This edition provides an overview of key regulatory developments in the past three months relevant to companies listed, or planning to list, on The Stock Exchange of Hong Kong Limited (HKEx), and their advisers. In...more
7/5/2019
/ Accounting Standards ,
Acquisitions ,
Audit Policies ,
Board of Directors ,
CEOs ,
China ,
Conflicts of Interest ,
Controlling Stockholders ,
Criminal Prosecution ,
Disclosure Requirements ,
Disqualification ,
Due Diligence ,
Economic Sanctions ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Financial Reporting ,
Fines ,
Foreign Investment ,
HKEx ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Hong Kong Stock Exchange ,
Initial Public Offering (IPO) ,
Insider Information ,
Listing Rules ,
Mergers ,
Non-GAAP Financial Measures ,
Office of Foreign Assets Control (OFAC) ,
Publicly-Traded Companies ,
Risk Assessment ,
The Market Misconduct Tribunal (MMT) ,
Trade Suspensions ,
Variable Interest Entities
In the past year, nearly a dozen companies have taken advantage of new rules to list on the Stock Exchange of Hong Kong Limited (HKEx). On April 30, 2018, HKEx introduced a series of reforms to encourage the listing of...more
6/19/2019
/ Biotechnology ,
China ,
Corporate Executives ,
Dual Class Share Structures ,
EU ,
Food and Drug Administration (FDA) ,
HKEx ,
Hong Kong Stock Exchange ,
Innovative Technology ,
Listing Rules ,
Patent Registration ,
Popular ,
Publicly-Traded Companies ,
Research and Development ,
Shareholders ,
Threshold Requirements ,
United States ,
Weighted Voting Rights (WVR)
This Hong Kong regulatory update provides an overview of key regulatory developments in the past three months relevant to companies listed (or planning to list) on The Stock Exchange of Hong Kong Limited (HKEx) and their...more
4/5/2019
/ Accounting Standards ,
Annual Reports ,
Best Practices ,
Censures ,
Corporate Governance ,
Disclosure Requirements ,
Due Diligence ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Failure to Comply ,
HKEx ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Hong Kong Stock Exchange ,
Initial Public Offering (IPO) ,
Leases ,
Listing Rules ,
Material Misrepresentation ,
New Guidance ,
Omissions ,
Publicly-Traded Companies ,
Regulatory Standards ,
Securities ,
Shareholder Approval ,
Stock Connect ,
Weighted Voting Rights (WVR)
In April 2018, the Hong Kong Stock Exchange’s (HKEx) rule amendments permitting the listing of innovative, high-growth companies with dual-class share structures and pre-revenue biotech companies went into effect. The...more
1/23/2019
/ Biotechnology ,
Capital Markets ,
Capital Raising ,
China ,
Dual Class Share Structures ,
Hong Kong ,
Hong Kong Stock Exchange ,
Initial Public Offering (IPO) ,
Shanghai Stock Exchange ,
Shenzhen Stock Exchange (SZSE) ,
Stock Connect ,
Technology Sector ,
Trade Relations
In an important development for the Hong Kong securities market, the Hong Kong Stock Exchange (HKEx) announced that it has reached an agreement with the Shanghai and Shenzhen Stock Exchanges to permit companies with...more