Hong Kong Exchanges & Clearing Ltd. · HKEX:388

Hong Kong Exchanges & Clearing — IPO Roadshow (July 2023)

13 slides from Hong Kong Exchanges & Clearing's IPO roadshow presentation, Jul 5, 2023

  1. Slide 1: FINI Launch Arrangements

    FINI Launch Arrangements Lukas Petrikas FINI Project Lead Karina Chan Head of Post-Trade Systems, Information Technology Maria Chan IPO Vetting, Listing City Chan Clearing Infrastructure, Operations 5 July 2023

  2. Slide 2: Disclaimer

    Disclaimer The information contained in this presentation is for general informational purposes only and does not constitute an offer, solicitation, invitation or recommendation to subscribe for or buy or sell any securities or other products or to provide any investment advice or service of any kin

  3. Slide 3: Agenda

    Agenda 01 Timeline to Launch FINI will launch in October 2023. 02 Market Practice Sessions (MPS) [July] This briefing is for all FINI Users to understand the activities 03 Market Rehearsals (MRs) [August] between today and the go-live of the new settlement cycle and platform. 04 Transition Plan for

  4. Slide 4: Timeline to Launch [1/2] – Key Activities

    01 Timeline to Launch [1/2] – Key Activities End User Testing Market Practice (EUT) Sessions (MPS) 403 firms completed 10 - 28 July THANK YOU! TEST environment PRODUCTION environment Market Rehearsals (MRs) August (choice of weekend dates; details will be announced by HKEX shortly) 3 - 4 weeks FINI

  5. Slide 5: Timeline to Launch [2/2] – Market Testing

    01 Timeline to Launch [2/2] – Market Testing Market Practice Sessions (MPS) Market Rehearsals (MRs) Practice end-to-end T+2 IPO settlement using a Test T+2 settlement on the ‘real’ FINI platform Purpose set of simulated, realistic IPO cases and system interfaces ! e.g. public offer subscription will

  6. Slide 6: Market Practice Sessions (MPS)

    02 Market Practice Sessions (MPS) Six IPO cases will be simulated, launching between 10-18 July Case 1 and Case 5 are “standard” global offers; other cases simulate a realistic ‘contingency’ event FINI Users should log in to the End User Testing (EUT) environment using same credentials as before to

  7. Slide 7: Market Rehearsals (MRs)

    03 Market Rehearsals (MRs) Testing within the production environment under a compressed timetable that would complete all steps within a single day. The same rundown will be used for all weekend sessions. Testing includes infrastructure failover scenarios. Market participants should set up their pro

  8. Slide 8: Transition Plan [1/2]

    04 Transition Plan [1/2] HKEX will announce the exact FINI launch date ("FL") after completion of the Market Rehearsals (MRs) (expected: October 2023) FL-2 FL-1 FL date FL+1 FL+2 FL+3 FL+4 FL+5 FL+6 FL+7 FL+8 Last possible prospectus publication date under “old” Settle T+5 T+5 regime & settlement cy

  9. Slide 9: Transition Plan [2/2]

    04 Transition Plan [2/2]  During the short "parallel run" period (when T+5 IPOs are potentially still completing settlement, while 'new' T+2 IPOs are launched in FINI), HKEX's main goal is to minimise complexity and operational risk for all Hong Kong IPO market stakeholders.  For this reason, any

  10. Slide 10: Rule Changes [1/2] – Summary

    05 Rule Changes [1/2] – Summary HKEX has published a series of new and updated documents in relation to the rule changes brought by FINI: Main Board / GEM Listing Rules  Specify the required submissions and data sharing / dual filing arrangements with the SFC for information processed on FINI Listi

  11. Slide 11: Rule Changes [2/2] – Stock Admission and EIPO Fees

    05 Rule Changes [2/2] – Stock Admission and EIPO Fees Upon the launch of FINI, HKSCC’s fee structure for IPO issuers will also be updated: From To EIPO processing fee EIPO processing fee Stock Admission fee $10 per subscription $10 per subscription + $50,000 - 600,000 based on amount of funds succes

  12. Slide 12: #FINIready checklist

    05 #FINIready checklist Final preparations… Remember the dates… ✔ July July Read the latest Information Pack and Market Practice Sessions User Guides (MPS) 10 28 2023 2023 ✔ Set up user accounts and teams in August August HKEX Access Management Portal Market Rehearsals (MRs) ✔ 2023 2023 Obtain clien

  13. Slide 13: Questions?

    Questions? For further information on HKEX, please go to hkexgroup.com and hkexnews.hk For further information on FINI, please go to hkex.com.hk/fini

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