Part III Regulation of Financial Products, 6 Securities Offerings

Subject(s):

Listing — Securities lending — Financial regulation

This chapter looks at financial products and their regulation in relation to listings of securities on The Stock Exchange of Hong Kong (SEHK). Hong Kong’s system for listing and public offerings of securities is largely based on the pre-FSMA 2000 system of the United Kingdom. As such, it is based on a statutory framework established by the Companies (Winding Up and Miscellaneous Provisions) Ordinance (CWUMPO) and the Securities and Futures Ordinance (SFO). The chapter explains how non-statutory controls on offers of securities fall into two broad classes: securities to be admitted to listing and those which are not to be listed. The legal and regulatory framework of Hong Kong addressing public offerings and listings of company securities covers: private and public companies; public offerings and prospectus requirements; the means by which a company’s securities can become listed; preparation of prospectuses and listing documents; and continuing obligations of being listed.