The Stock Exchange of Hong Kong Limited (HKEX) recently released its Conclusions on the Consultation Paper introduced in December 2022, regarding “Proposals to Expand the Paperless Listing Regime and Other Rule Amendments”, which aims to further simplify administrative procedures and reduce the use of paper.

HKEX has adopted all of the proposals outlined in the Consultation Paper with some minor modifications. Listed issuers, directors, and practitioners in Hong Kong should pay careful attention as these proposals will have a significant practical impact on their daily compliance obligations, and a majority of the amended Listing Rules (as defined below) will come into effect on 31 December 2023.

Key changes to the Rules Governing the Listing of Securities on the HKEX (the Listing Rules) include

• the reduction in the number of submission documents,
• the mandatory submission by electronic means,
• the mandatory electronic dissemination of corporate communications by listed issuers to the extent permitted by applicable laws and regulations, and
• the simplification of the appendices to the Listing Rules.

More details of the consultation conclusions are summarized here.

HDH can help companies navigate the changing landscape of electronic-disseminated/online disclosures and ensure they meet the needs of investors and other stakeholders. Contact us today to learn more.