证监会、联交所加紧合作打击涉及新上市公司失当和不正当行为
证监会与联交所发出联合声明,阐述在近期首次公开招股项目中发现的一些问题,而当中情况显示可能没有足够的投资者真正对项目感兴趣,并令人质疑有关股份是否有一个公开、有秩序及公平的市场。
声明指某些首次公开招股项目可能只是以非真实方式满足首次上市规定,例如将股份以被托高的招股价分配予受控制承配人,藉以满足《主板上市规则》中的5亿元最低市值规定。其他可疑的安排似乎是为了在日後能操纵有关股份的市场(如透过 「唱高散货」计划)而作出的。
证监会亦注意到联交所今天发表了有关调高主板盈利规定的谘询总结文件,证监会支持联交所根据其市场区分策略,按照主板定位来设定合适的盈利要求,藉以维持香港股票市场质素的举措。
证监会行政总裁欧达礼表示,参与首次公开招股过程的上市申请人及机构在维持香港股票市场的质素和廉洁稳健方面,担当重要角色。今天发出的联合声明显示决心打击新上市公司的市场失当行为,而若有预警迹象显示没有足够的投资者真正对某首次公开招股项目感兴趣,将毫不犹豫地采取行动。在新订盈利要求生效前,证监会将特别关注那些借助进取的盈利预测来支持其预期估值的新上市申请。
声明指作为针对不正当行为而采取的监管对策的一部分,现时正加强审查出现预警迹象的有问题申请。在有需要时,两家监管机构将使用其监管权力,反对或拒绝某项申请。
此外,证监会正与联交所紧密合作,严格检视每个上市申请人的估值(如将其市盈率与上市同业比较),以评估有关最低市值和其他首次上市规定的合规情况。
证监会亦已加强监察参与首次公开招股的簿记建档及配售活动的机构,并将对那些涉及有问题的新上市公司的机构进行深入的视察,亦将针对任何涉及首次公开招股的失当行为采取执法行动。
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