許正宇:港交所(00388.HK)已就GEM定位等問題展開檢討工作
對於聯交所有否計劃活化創業板(亦即現時稱為GEM),使更多中小企業可借助創業板上市集資。財經事務及庫務局局長許正宇書面回覆立法會議員提問時表示,港交所(00388.HK)於2017年諮詢市場意見後,於2018年將GEM重新定位為一個獨立的交易板塊,為中小企提供集資平台。
他指,GEM取消轉往主板上市的簡化轉板申請程序,主要是考慮到以往創業板發行人較常出現股權高度集中、流通量不足,以及股價波幅顯著等問題,令市場普遍質疑有關程序可能被一些質素不佳的發行人利用,透過在創業板上市,使日後較容易轉入主板。
許正宇表示,港交所留意到有市場人士認為有關措施會對有意上市的中小型企業有影響,但港交所有責任維護和持續提升香港資本市場的質素,並按《證券及期貨條例》的規定為公眾利益行事。有關措施有助改善市場整體素質,並不會剝奪中小型企業在香港上市的機會,長遠而言可促進主板及GEM發展。
為回應部分人士表示取消簡化申請程序令轉板規定過於繁複,港交所已提供多項利便GEM轉板申請人遵守新程序的措施,包括豁免提交部分文件、豁免遵守有關上市後股份禁售期、集資限制及委任合規顧問的規定。GEM發行人申請轉往主板上市前,亦毋須遵守有關除牌程序的規定。
另外,港交所在隨後進行的其他市場諮詢期間,了解到有市場人士認為港交所應進一步研究加強GEM作為專為中小型企業上市而設的交易板塊的定位和功能,以進一步吸引及便利中小型企業上市集資。
同時,亦有市場意見認為應就GEM的上市規則作出檢討和加強監管。就此,港交所已展開檢討工作,審慎考慮市場人士對GEM的定位及市場觀感的意見,同時研究外地類似市場的發展。若港交所在檢討後認為有必要修訂GEM上市規則,會就建議進一步諮詢市場意見。(ek/k)
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