Julia Charlton and various invited guests speak about investment opportunities in many countries, and in China and Hong Kong in particular. Podcast offers you information about history of economics science and up-to-date changes in law system. Our podcast is divided in two categories: Legally Speaking and Market Debate. Under the 'Legally speaking' category we publish speakers performance on one subject and under the 'Market debate' we publish conversations with our guests.
Virtual Roundtable on Listing Asian companies on Aquis
The London-based Aquis Exchange PLC is a stock exchange group that operates Aquis Exchange -a pan European cash equities trading business, and Aquis Stock Exchange -a primary UK Stock Market composed of a Main Market and a two-tiered Growth Market. It is authorized and regulated by the UK Financial Conduct Authority and France’s Autorité des Marchés Financiers. For this podcast we were joined by Alasdair Haynes and Philip Olm from Aquis Exchange PLC, Victoria Younghusband from Charles Russell Speechlys’, and Andrew Raca from VSA Capital.
• An overview of Aquis Exchange.
• Listing Asian companies on Aquis.
• Raising Capital in London.
• Q&As covering topics including ESG listings and Qualifying Markets on Aquis.
Listing Opportunities on Nasdaq Dubai
Nasdaq Dubai and Charltons’ webinar on Listing Opportunities on Nasdaq Dubai. Nasdaq Dubai is an international exchange located in the Dubai International Financial Centre with a large and diversified investor base from 212 nationalities. For this podcast, we were joined by Huimin Qiu who is responsible for Nasdaq Dubai’s collaboration with Chinese companies.
• An overview of Dubai’s capital market.
• Outline of the listing opportunities on Nasdaq Dubai (Equity & Debt).
• The options available and listing requirements on Nasdaq Dubai Growth Market.
• The listing process and how to engage the listings team.
• Give an overview on the preparation of a prospectus.
• Q&A covering listing in general on Nasdaq Dubai’s main and growth markets and the investment trends in Dubai’s capital markets.
2022 Virtual Asset (Crypto) Service Providers & Dealers in Precious Metals & Stones
On 31 October 2022, Julia Charlton presented a podcast on 2022 Virtual Asset (Crypto) Service Providers & Dealers in Precious Metals & Stones: Hong Kong’s New Regulatory Regimes. This podcast provided an overview of the new Hong Kong licensing regime for virtual asset service providers and the new registration regime for dealers in precious metals and stones, which are both being introduced as amendments to the current Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615 of the laws of Hong Kong).
These two new regulatory regimes are intended to address the issues identified by the Financial Action Task Force, specifically (i) the gap in the regulation of dealers in precious metals and stones in Hong Kong; and (ii) the growing risks in relation to virtual asset businesses and that virtual asset service providers should be subject to the same anti-money laundering and counter-terrorist financing obligations as financial institutions and be subject to a statutory licensing or registration regime.
The Financial Services and Treasury Bureau issued a Legislative Council brief in June 2022 summarizing the proposed regulatory regimes and annexing the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022, which sets out certain key provisions of the new licensing regime. At present, the legislative amendments are expected to come into effect on 1 January 2023, excluding certain provisions relating to the virtual asset service providers licensing regime, which are expected to come into effect on 1 March 2023.
SFC Bookbuilding Conduct Requirements – HKEX Listing Rules & Transitional Arrangements
On 28 October 2022, Julia Charlton presented a podcast on SFC Bookbuilding Conduct Requirements – HKEX Listing Rules & Transitional Arrangements. This podcast provided an overview of the concerns leading to the Bookbuilding Conduct Requirements and an in-depth summary of the key features of the Bookbuilding Conduct Requirements. The podcast also discussed the expected standards and obligations of OCs and CMIs as well as the amendments to the Listing Rules to reflect the Bookbuilding Conduct Requirements. Transitional arrangements for specific circumstances have been set out by the Hong Kong regulators, which have also been discussed in this podcast.
2022 Insider Dealing in Hong Kong
On 27 October 2022, Julia Charlton presented a podcast on Insider Dealing in Hong Kong – Overview & Update. This podcast provided an overview of the laws on insider dealing in Hong Kong and a summary of the enforcement action and measures against insider dealing, as well as defenses to insider dealing. The webinar also discussed recent vital cases relating to insider dealing in Hong Kong and the proposed amendments to enforcement-related provisions of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
Listing Pre-Revenue Biotech Companies in Hong Kong
On 14 October 2022, Julia Charlton presented a podcast on Listing Pre-Revenue Biotech Companies on the HKEx. This webinar is to provide a detailed explanation on listing pre-revenue Biotech Companies. In April 2018, the HKEx implemented a new listing regime aimed at attracting the listings of companies in high-growth emerging and innovative sectors, particularly from the PRC. This included the introduction of Chapter 18A of the Listing Rules which allows for, and stipulates the requirements for, listing biotech companies that cannot meet the financial eligibility tests of Listing Rule 8.05. Since the introduction of Chapter 18A, the HKEx has become the world’s second-largest and Asia’s largest funding hub for biotech companies. In order to be considered eligible and suitable for listing under Chapter 18A, the company must meet the definition of a “Biotech Company” which is a company primarily engaged in the R&D, application and commercialization of Biotech products, processes or technologies. An applicant must demonstrate that it meets the suitability criteria set out in HKEx Guidance Letter GL92-18 “Suitability for Listing of Biotech Companies” (Core Product developed beyond the concept stage, primary engagement in R&D for developing Core Product(s), the primary reason for listing, patents and prior meaningful third party investment). In addition, Chapter 18A listing applicants must satisfy other eligibility requirements for listing (expected market capitalization, track record, working capital, ownership continuity, and public float). Chapter 18A applicants must have a minimum expected market capitalization of HK$1.5 billion at the time of listing. Chapter 18A listings enjoy modified requirements relating to the subscription and allocation of IPO shares, including subscription of IPO shares by existing shareholders and Cornerstone Investors. Biotech Companies are subject to enhanced disclosure under Biotech Company Listing Rule 8.04 and HKEx Guidance Letter GL107-20. Biotech Companies listed under Chapter 18A of the Listing Rules are subject to additional and modified continuing obligations compared to an issuer with a standard listing. Chapter 18A issuers are identified through the stock marker “B” at the end of their stock name. Biotech Companies are subject to enhanced disclosure in their financial reports. Once a Biotech Company listed under Chapter 18A is able to satisfy one of the three financial eligibility tests under Listing Rule 8.05, the requirements of Listing Rules 18A.09 to 18A.11 cease to apply.