Twenty New Country Guides Published for Acceptable Jurisdictions of Incorporation

The Stock Exchange of Hong Kong (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), today published 20 Country Guides for each acceptable overseas jurisdiction following the revision of the Joint Policy Statement between the Securities and Futures Commission (SFC) and the Exchange on 27 September 2013 (revised JPS). 

At that time, the Exchange undertook to publish a Country Guide for each Acceptable Jurisdiction setting out, among other things, comprehensive and user friendly guidance on how companies incorporated in the relevant jurisdiction can meet the requirement for equivalent shareholder protection standards in the Listing Rules. 

"These Country Guides are aimed to enhance applicants' understanding of the Exchange's expectations, practices, procedures and considerations when applying the Listing Rules to overseas issuers," HKEx's Chief Regulatory Officer and Head of Listing David Graham said.

"The Country Guides provide guidance on how the Exchange will consider certain matters under the revised JPS. Where appropriate, we have also added to the Country Guides our views and analysis based on the experience we have gained from various applications," Mr Graham added.

The Guides should be read in conjunction with the revised JPS, which have consolidated all relevant issues regarding the listing of overseas companies into a single document.

The Exchange will in the future update a Country Guide when it is informed of a material change in the laws, rules or regulations referred to the Country Guide by a new applicant or a listed company incorporated in the relevant Acceptable Jurisdiction. New applicants and listed companies incorporated in an Acceptable Jurisdiction are obliged at the earliest opportunity to inform the Exchange of such material changes.

The 20 jurisdictions are Australia, Brazil, British Virgin Islands, Canada (Alberta), Canada (British Columbia), Cyprus, France, Germany, Guernsey, Isle of Man, Italy, Japan, Jersey, Korea, Labuan, Luxembourg, Singapore, England and Wales, USA (California), and USA (Delaware). A Country Guide for Canada (Ontario) will only be published at a later date, as appropriate, when another applicant incorporated in Ontario applies for a listing on the Exchange.

Notes: 

  1. In addition to Hong Kong, the People's Republic of China, the Cayman Islands and Bermuda, the Exchange has accepted 21 jurisdictions as a company's place of incorporation (Acceptable Jurisdictions).
  2. On 27 September 2013, the SFC and the Exchange published arevised Joint Policy Statementregarding the listing of overseas companies (revised JPS) to replace the JPS issued in March 2007. The objective of the revised JPS is to assist overseas companies seeking either primary or secondary listing in Hong Kong.
  3. These 20 Country Guidesare available on the HKEx website. The replaced guidance materialsare also available on the HKEx website as archived information.
  4. Currently, only one Ontario company, Manulife (stock code: 945) which applied for listing in 1999, is listed on the Exchange. This was before the 2007 JPS was announced.

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