香港交易所一般上市要求.ppt

? 2009 Lang Michener LLP Hong Kong Dual Listings by Canadian Public Companies?加拿大上市公司在香港双重上市? March 2011 2011年 3月 Dual Listing of Canadian Companies on HKSE加拿大公司在香港交易所双重上市 HKSE General Listing Requirements Stricter listing requirements than TSX / TSX-V Track Record: 3 Year Financial Performance Management Continuity: 3 Years Dual Listing of Canadian Companies on HKSE加拿大公司在香港交易所双重上市 HKSE General Listing Requirements Ownership Continuity: 1 Year Eliminates all but mature mining companies from listing Dual Listing of Canadian Companies on HKSE加拿大公司在香港交易所双重上市 New HKSE Listing Rules for Mining Companies HKSE plan to broaden listed issuer base initiated in 2010 Minimum requirements: At least “indicated resources” Dual Listing of Canadian Companies on HKSE加拿大公司在香港交易所双重上市 New HKSE Listing Rules for Mining Companies Minimum requirements: 125% working capital for 12 months (watch out for restrictions on pre-IPO Financing!) Dual Listing of Canadian Companies on HKSE加拿大公司在香港交易所双重上市 New HKSE Listing Rules for Mining Companies Minimum requirements: Board of directors and management with 5 years industry experience Clear Pathway to Production Dual Listing of Canadian Companies on HKSE加拿大公司在香港交易所双重上市 New HKSE Listing Rules for Mining Companies Expect conservative application of new listing rules Dual Listing of Canadian Companies on HKSE加拿大公司在香港交易所双重上市 Clear Pathway to Production Path to production supported by at least a scoping study (ie: Preliminary evaluation of economic viability of mineral resources) Dual Listing of Canadian Companies on HKSE加拿大公司在香港交易所双重上市 Clear Pathway to Production Indicative dates and costs for achievement of commercial production HKSE can be expected to focus on plan to achieve production Preliminary feasibility study may in practice be required Dual Listing of Canadian Companies on HKSE加拿大公司在香港交易所双重上市 Clear Pathway to Production Major investment banks may want to see “bankable feasibility study” at a minimum Dual Listing of Cana