A Guide to GEM Listings in Hong Kong

Foreword by Acting Dean Professor Lin Feng, Dean of the School of Law, City University of Hong Kong

The Growth Enterprise Market (“GEM”) in the Hong Kong Stock Market (“HKSE”), reflecting Hong Kong’s position as a leading global financial market, has seen a record number of IPOs over the past few years. These IPOs, for Hong Kong, Mainland Chinese and international companies, are expensive, time consuming and carry considerable risk for the participants as the HKSE requires high entry and stringent disclosure requirements for new issuers. As part of the listing process companies often need to adopted significantly different financial, organizational and governance structures. Unlike its main board counterpart, it is difficult to find any book on the GEM in Hong Kong.

A GUIDE TO LISTINGS ON THE GROWTH ENTERPRISE MARKET IN HONG KONG provides a comprehensive guide for practitioners, academics, executives and other individuals involved in the IPO listing process in the GEM. The experienced practitioner and novice can both benefit from this book. The text is written in a clear easy to understand manner and it nicely tracks the GEM listing rules in its step by step presentation to avoid confusion. It includes practical advice, templates of various relevant legal documents and draws on the real world experiences of practitioners in the listing process. The real world guidance it provides will allow practitioners and participants to avoid the many mistakes, obstacles and potential problems that are endemic in the listing process while outlining the appropriate process necessary for a successful listing. Using the book as part of a comprehensive IPO process should save corporate money and time and lead to a more successful IPO.