Since 30 April 2018, pre-revenue Biotech Companies1 have been permitted to list under Chapter 18A of the Rules Governing the Listing of Securities (Listing Rules) on The Stock Exchange of Hong Kong Limited (HKEx), being one of the three new listing chapters introduced under the new listing regime in April 2018. After two years’ implementation of the new listing regime for pre-revenue Biotech Companies, a total number of 18 pre-revenue Biotech Companies have been listed under Chapter 18A of the Listing Rules as of 31 May 2020, raising HK$43.9 billion. The HKEX has recently published additional guidance materials for Biotech Companies providing prospective issuers and the market with more clarity on the requirements for listing and required disclosures. Below are some highlights of these guidance materials:
- Checklist Checklist: Screening employees for roles in AML compliance (USA) Recently updated
- How-to guide How-to guide: What general counsel (GC) need to know about environmental, social and governance (ESG) Recently updated
- Checklist Checklist: What to consider to ensure a contract is valid (USA)