Note to subscribers for the amendments
to the rules governing the listing of securities on the Growth Enterprise Market
(the "GEM Listing Rules")
Update No. 41
21 October 2011
Dear Sirs,
Debt Issues for Professional
Investors Only
We enclose reprinted pages of
the GEM Listing Rules and the filing instructions. The reprinted pages
incorporate amendments to implement proposals in the Consultation
Conclusions on the Listing of Debt Issues to Professional Investors Only
published on 21 October 2011.
The amendments:
| ¡@ |
Present the Rules in a more
accessible language; |
| ¡@ |
Align the definition of
professional investor in the Rules with that in the Securities and Futures
Ordinance; |
| ¡@ |
Leave the existing issuer
eligibility criteria broadly unchanged; |
| ¡@ |
Simplify
application and approval procedures; |
| ¡@ |
Replace
the current prescribed disclosures for listing documents with a requirement
to include information that is customary for offers of debt securities to
professionals; and |
| ¡@ |
Remove
continuing obligations on issuers that are not appropriate for offers that
are only available to professionals. |
Coming into effect
The amendments will come into
effect on 11 November 2011.
Please click
HERE to see the amended Rules.
Yours faithfully,
For and on behalf of
The Stock Exchange of Hong Kong Limited
Mark Dickens JP
Head of Listing
|
