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港交所(00388.HK)修訂IPO回撥機制 8月4日生效
阿思達克 08-01 17:20
港交所(00388.HK)全資附屬聯交所今天(1日)就優化首次公開招股市場定價及公開市場規定的諮詢文件刊發諮詢總結,並就持續公眾持股量的建議展開進一步諮詢。 聯交所收到1,253份來自各界人士對諮詢文件的非重複回應意見。經考慮這些回應意見,聯交所在略作修訂及釐清後,將採納諮詢文件中的大部分建議。 在IPO發售及定價機制方面,上市規定的主要變化包括,(1)建簿配售部分的最低分配份額:規定發行人將IPO時初步擬發售股份的至少40%分配至建簿配售部分,最低分配比例由原建議的50%下調至40%。(2)分配至公開認購部分:允許新上市申請人選用機制A或機制B,作為首次公開招股發售的分配機制。 機制A:將現行分配及回補機制替換為以下公開認購部分的指定分配比例:機制A下分配至公開認購部分的最大回撥百分比由原建議的20%上調至35%。 機制B:引入新的機制選項,要求發行人事先選定一個分配至公開認購部分的比例,下限為發售股份的10%(上限為60%),並無回補機制。(機制B下分配至公開認購部分的最大百分比由原建議的50%上調至60%)。 新規定將於2025年8月4日生效,並適用於所有發行人及所有在該日或之後刊發上市文件的新上市申請人。 港交所上市主管伍潔鏇表示,希望透過這次改革,提升新股定價及分配機制的穩健性,並且平衡各種不同類型的本地及國際投資者參與新股認購的需求,當局已修訂初始公眾持股量要求,為發行人提供更大的靈活性與確定性,並引入新的初始自由流通量要求,以確保上市時有足夠的可交易股份。
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