23 slides from Hong Kong Exchanges & Clearing's technical presentation, Sep 10, 2024
Slide 1: FINI Market Training Webinar, 10 September 2024
Presented by: IPO Vetting, Listing Division H K E xX @ iB & & Pi 10 September 2024
Slide 2: Contents
Contents 01 | Introduction 02 | Key Observations A. Inflight distributors B. Allotment results announcement C. Information on placees 03 | Recommended Tips 04 | Q&A
Slide 3: Introduction
INTRODUCT ON
Slide 4: IPOs listed using FINI
fZ BAR Raichang bazS As of 10 September: Cirrus Aircraft Limited ‘Shanghai Voicecomm Infor... Ruichang International Hol... v Fangzhou Inc. 2507 2495 1334 6086 “Trading Started Trading Started ‘Trading Started Trading Started HKD 27.500 HKD 152.100 HKD 1.050 HKD 8.180 2024-07-12.08:00 2024-07-1009.0
Slide 5: Key Observations
KEY OBSERVATIONS Inflight distributors Allotment results announcements (“ARA”) Information on placees m >
Slide 6: A. Inflight distributors
A. Inflight distributors Who are they? * Distributors added after the Public Offer opens Observations . NOT FiNI registered or only registered last- minute * — Did NOT attend FiNI dress rehearsal * FiNI process handled by outsourced personnel * — New distributor may create new connected client relat
Slide 7: (1) ARA Form submission
(1) ARA Form submission One of the requirements under Rule 12.08: 7
Slide 8: (1) ARA Form submission (cont.)
(1) ARA Form submission (cont.) • • • • • • • 8
Slide 9: (2) Aggregation of shareholders in Top 25 Shareholders List
(2) Aggregation of shareholders in Top 25 Shareholders List • • o o • 9
Slide 10: B. Allotment results announcement: Top 25 Shareholders List example
B. Allotment results announcement (cont.) Illustrative example of Top 25 Shareholders List Name of Shareholder / Number of Shares / Unitholder / Receipt holder / Units / Receipts Number of Shares / Units / Receipts Held If Holder type is P.O. or Placee, provide No Unique reference number Allocated U
Slide 11: B. Allotment results announcement: Top 25 H-Shareholders List example
B. Allotment results announcement (cont.) Illustrative example of Top 25 H-Shareholders List No. Name of Shareholder / Unique reference number 1 Shareholder 1 2 Shareholder 2 3 Shareholder 3 4 Shareholder 4 5 Shareholder 5 6 Shareholder 6 7 Shareholder 7 8 Shareholder 8 9 Shareholder 9 10 Shareholde
Slide 12: (3) ARA Upload
B. Allotment results announcement (cont.) (3) ARA Upload Meeting publication deadline is a Listing Rule requirement 12.08 In the case of an offer for subscription, offer for sale or open offer, an announcement of the results of the offer, the basis of allotment of the securities and, where relevant,
Slide 13: (3) ARA Upload (cont.)
(3) ARA Upload (cont.) • • • • • 13
Slide 14: (3) ARA Upload (cont.)
(3) ARA Upload (cont.) ––––– • • • 14
Slide 15: C. Information on placees
C. Information on placees * Annex B.8 of the Guide for New Listing Applicants sets out the requirement on placees. * Same principles and requirements as pre- FiNI 4. ALL parties involved in the IPO should familiarise themselves with the Guide and FAQs on placing-related matters FAQ 1 Why are there n
Slide 16: C. Information on placees (cont.)
C. Information on placees (cont.) FAQ 2. What additional information may be required to be submitted to facilitate regulators’ review of the placee lists? In addition to the requirements of MB Appendix F1 and the required fields of the placee lists to be completed in FINI, the following information
Slide 17: C. Information on placees (cont.)
C. Information on placees (cont.) Type of placee Additional information required Fund (i) Ifa fund meets the definition of a Discretionary Managed Portfolio (as (excluding a SFC defined under MB Appendix F1), select “Discretionary Managed authorised fund or Portfolio” as the placee category in the p
Slide 18: C. Information on placees (cont.)
C. Information on placees (cont.) Type of placee Additional information required Fund (i) Ifa fund meets the definition of a Discretionary Managed Portfolio (as (excluding a SFC defined under MB Appendix F1), select “Discretionary Managed authorised fund or Portfolio” as the placee category in the p
Slide 19: C. Information on placees (cont.)
C. Information on placees (cont.) When preparing the placee list (cont.): * Submit consent application for connected clients ASAP in accordance with Chapter 4.15 of the Guide * Prepare the order book and account opening documents of investors for submission upon request Page B.8-3 of the Guide: Furt
Slide 20: Recommended Tips
RECOMMENDED T PS
Slide 21: Recommended Tips
Recommended Tips A team effort Sufficient staffing and resources on critical dates (i.e. T and T+1) Senior/experienced personnel: - make decisions and must always be reachable / on stand-by - have appropriate back-up communication channels Sponsor-OC to: - coordinate all parties and monitor progress
Slide 22: Q&A
QcA
Slide 23: Thank You
THANK YOU For further information, please visit the FiNI Website x