Core Viewpoint - The Hong Kong capital market is experiencing new opportunities with the introduction of the "Tech Company Special Line" and the upgrade of listing rules, providing clearer paths and more efficient options for companies to go public [1] Group 1: Listing Preparation - The first step for companies planning to list in Hong Kong is internal evaluation and decision-making, assessing financial status, business model, market competitiveness, and corporate governance to meet listing requirements [3] - Selecting intermediary institutions is crucial, with companies needing to appoint sponsors, lawyers, and accountants, ensuring that sponsors are licensed by the Hong Kong Securities and Futures Commission [3] - Financial and compliance reviews are essential, including financial audits to ensure compliance with Hong Kong Financial Reporting Standards and addressing potential compliance issues [3] Group 2: Application and Approval - Submitting the A1 application is the formal initiation of the listing process, with sponsors assisting in submitting the application form and paying fees, including a draft prospectus, financial reports, and legal opinions [4] - The Hong Kong Stock Exchange's review phase includes multiple rounds of Q&A, focusing on business sustainability, financial authenticity, and corporate governance compliance [4] Group 3: Issuance and Listing - After passing the hearing, companies enter the issuance and listing phase, where determining the issue price and attracting investor subscriptions are key [6] - Roadshows and pricing are critical, with companies needing to promote their business and financial status to institutional investors, balancing investor demand with corporate interests [6] - The case of Golden Leaf International shows a successful issuance with a subscription rate of 11,400 times, highlighting market recognition [6] Group 4: Post-Listing Support - Post-listing, companies must engage in effective market support to maintain stock price stability and market confidence, utilizing mechanisms like the "green shoe" option for price stabilization [8] - Companies are required to comply with ongoing disclosure requirements from the Hong Kong Stock Exchange, regularly releasing financial reports and significant announcements [9] Group 5: Value of Professional Institutions - The IPO process in Hong Kong typically takes 6-12 months, influenced by company preparation and market conditions, with professional intermediary institutions playing a vital role [10] - Early engagement with qualified and experienced sponsors is crucial for companies planning to list in Hong Kong, aiding in precise planning of the listing path [11]

Group 1 - The core point of the article is that Guanghetong Wireless plans to raise up to $400 million through an IPO in Hong Kong [1] Group 2 - The company is seeking to capitalize on the growing demand for wireless communication technology [1] - The IPO is expected to enhance the company's financial position and support its expansion plans [1] - The move reflects a broader trend of technology companies pursuing public listings to access capital markets [1]

Regulatory Focus - Chinese regulators are pushing for leading domestic chip manufacturers to list on the mainland stock exchanges [1] - The aim is to better control the types of investors who can purchase shares in these strategically important companies [1] - Regulators have concerns about chipmakers' Hong Kong IPOs due to difficulties in identifying the actual backers of international investors [1] Company Actions - Changxin Memory Technologies (长鑫储存) adjusted its Hong Kong IPO to an A-share listing following regulatory advice [1]

Group 1 - The core viewpoint of the news highlights the recent IPO activities in Hong Kong, with a total of 293 companies having submitted applications this year, resulting in 64 listings, including 61 IPOs that raised a total of HKD 1,464.98 billion [2] - This week, three companies are set to be listed: He Meng (02525.HK) with a market capitalization of HKD 41.60 billion and a decline of 7.24%, Health 160 (02656.HK) raising HKD 4.00 billion with a significant increase of 138.69%, and Jingfang Pharmaceutical-B (02595.HK) with HKD 18.20 billion and a rise of 106.47% [1] - The companies that submitted applications this week include Xianweida Biotechnology-B, Shiyoupai, Ruoyuchen, Shimeite, Huqin Technology, Nuandong Insight, Aikemu Fa-B, Beijing Junzheng, Zhongrun Solar Energy, and New Element-B, all scheduled for submission on September 15-19 [3] Group 2 - The total amount raised through IPOs this year in Hong Kong is HKD 1,464.98 billion, indicating a robust market despite fluctuations in individual stock performances [2] - The significant percentage increases in the stock prices of Health 160 and Jingfang Pharmaceutical-B suggest strong investor interest and market confidence in these sectors [1] - The diverse range of industries represented in the recent applications, including biotechnology, consumer electronics, and insurance technology, reflects the dynamic nature of the Hong Kong IPO market [3]

智通财经APP获悉，瑞银全球投资银行部副主席及亚洲企业客户部联席主管李镇国指，预料今年香港 IPO发行量能超过2000亿港元。 另外，新修订的最低40%配售份额，也确保上市定价机制及有广泛和足够机构投资者参与上市发行，确 保稳定的长期后市稳定表现。据港交所优化新股市场定价及公开市场规定，将于8月4日生效。 8月1日，香港联交所就优化首次公开招股市场定价及公开市场规定的咨询文件刊发咨询总结。对此，李 镇国指出，香港联交所宣布的强化IPO价格机制和公开市场要求，无疑将继续提升香港作为发行人主要 上市地之一的吸引力和竞争力。这修订会继续加强全球企业选择香港最为上市地点。 ...

近日，某国企公示了香港IPO的主要中介中标结果，显示中小企业香港上市的主要中介相关费用，仅代 表个例，不作为普遍情况。 根据相关招标公告，汇总如下(不含税报价)； 保荐人：招商证券国际，400万，承销服务4%； 来源：瑞恩资本RyanbenCapital 通常，企业选择赴港IPO上市，其所需支付的费用主要包括中介机构的服务费、港交所费用，以及差旅 等各类杂费等。而一些IPO中介收费也会视乎企业所属行业、企业规模，甚至地理位置等综合考虑，而 高低不同。 券商境内律师：天元，84万； 券商境外律师：天元(香港)，296万； 行业顾问：弗若斯特沙利文，30万(含税总报价)。 上述为该公司香港上市已公示部分的IPO中介团队，倘就以此计，不包括承销费用及审计加期费用，总 计约1900万左右，需注意，费用中相当一部分并非一次性支付，通常采用的是分段付费，在一些关键时 间节点部分付费，譬如进场时、递交A1时、聆讯或上市时等。 通常，企业香港IPO除上述中介之外，其他的中介还会包括合规顾问、印刷商、公关/路演公司、股份过 户、收款银行，可能还会包括物业估值师(非必须，视乎公司是否存在单一物业占比超15%)等。 版权声明：所有 ...

曹操出行已开始评估投资者对其香港IPO的兴趣。 ...