Capital Markets & Listing Rules

IPOs, secondary offerings, debt issuances, and HKEX compliance. Full-spectrum support for companies accessing Hong Kong’s capital markets.

Overview

Hong Kong is one of the world’s leading capital markets, consistently ranking among the top global IPO destinations. The Hong Kong Stock Exchange (HKEX) offers companies access to deep international capital, while its Main Board and GEM provide pathways for established enterprises and growth companies alike.

Our Services

1. Initial Public Offerings (IPOs)

Main Board and GEM listings
Pre-IPO structuring and reorganisation
Due diligence and prospectus drafting
Liaison with HKEX and SFC
Underwriting and placing arrangements
Marketing restrictions and offer document compliance

2. Secondary Offerings & Fundraising

Rights issues and open offers
Placements and top-up placings
Bonus issues and scrip dividends
Share repurchases and treasury shares

3. Debt Issuances

Bond issuances and debt restructuring
Convertible bonds and exchangeable bonds
Debt listing on HKEX’s debt securities platform

4. HKEX Listing Rules Compliance

Continuing disclosure obligations
Notifiable and connected transaction rules
Corporate governance requirements
Code of Conduct and insider dealing
Annual and interim reporting

5. Regulatory Compliance & Advisory

SFC and HKEX regulatory enquiries
Takeovers and mergers compliance
Whitewash waivers and Code on Takeovers
Regulatory investigations and enforcement

Why Choose ALLO?

International Firm Pedigree. We possess international experience to execute your projects with legal precision.

Tri-Qualified – Qualified lawyer in Hong Kong, England and Wales, and New York. Cross-border

Practical, Results-Driven – Clear advice that helps you access capital efficiently.

Who We Help

Client Type	How We Help
Listed companies	Ongoing compliance, fundraising, regulatory enquiries
IPO applicants	Pre-IPO structuring, listing applications, prospectus
Financial sponsors	IPO underwriting and placing arrangements
Investors	Pre-IPO investments and exit strategies
Fintech & crypto companies	HKEX listing pathway and ongoing compliance

Frequently Asked Questions (FAQs)

Key requirements include: profit test (HK$35 million over 3 years) or market capitalisation/revenue tests, minimum market capitalisation of HK$500 million, three years of trading record, and compliance with corporate governance requirements.

Main Board is for established companies meeting higher financial requirements. GEM (Growth Enterprise Market) is designed for SMEs and growth companies with less stringent financial criteria but stricter ongoing compliance obligations.

Under the Listing Rules, transactions above certain size thresholds require disclosure to shareholders via announcements and sometimes circulars and shareholder approval. We advise on classification and compliance.

Typically 6–12 months from the start of due diligence to listing. Timing depends on HKEX and SFC review processes and market conditions.

Contact us

Whether you need legal opinion, regulatory guidance, transaction support, or collaboration opportunities, we’re ready to assist.

Email

info@allolawyers.com

Wechat

alau234