The HKEx published its "HKEx Guidance Letter on Documentation Requirements for IPO Cases - Facilitative Procedures" (Guidance Letter) on 24 December 2010 for the purpose of providing flexibility in submitting documents which should be lodged with the SEHK four clear business days (4-day documents) before the expected hearing date in accordance with the Listing Rules.


Pursuant to the Listing Rules, a listing applicant should submit, among others, the following documents four clear business days before the expected hearing date:

  1. copies of the final proof of the listing document; and
  2. for a Mainland China listing applicant - a certified copy of the document issued by the State Council Securities Policy Committee or other Mainland China competent authority expressly approving the listing application (CSRC Approval).


In order to strike a balance between facilitating a listing applicant in submitting the 4-day documents and giving the Listing Committee sufficient time to consider the listing application, the SEHK will allow the following flexibility in relation to compliance with the 4-day documents submission requirements:

  1. Copies of the final proof of the listing document must be sent to the SEHK not less than three clear business days (by 6:00 p.m.) before the expected hearing date.
  2. Although the CSRC Approval should be sent to the SEHK not less than four clear business days (by 6:00 p.m.) before the expected hearing date as explained above, this requirement may be relaxed under special circumstances. If the SEHK considers it justifiable to extend the time for submission e.g. if the SEHK is satisfied that the listing applicant’s financial information will become out-of-date (in breach of Rule 8.06 ) if the application is not heard forthwith. In such cases, conditions may be imposed by the SEHK as it deems appropriate.

If the above conditions are not satisfied, the SEHK will not bring the case to hearing for that week.

Listing applicants and their sponsors are encouraged to consult the Listing Division if they have any questions about the Guidance Letter.

Copies of the Guidance Letter can be downloaded via the link below: http://www.hkex.com.hk/eng/rulesreg/listrules/listguid/Documents/gl23-10.pdf