Hong Kong’s stock exchange has released new requirements for listing minerals companies. The revised Chapter 18 of the Listing Rules is expected to encourage more primary and secondary offerings from international resources companies.
On May 20, the exchange published its conclusions to September 2009’s consultation on extending Chapter 18. The new rules will particularly help companies that have not yet started production but have contingent or indicated resources.
Shaun McRobert, a partner of Norton Rose believes that the exchange has struck a good balance between regulation and corporate realism.
“Before, it would have been difficult for pre-production companies to list, even with a road to production,” he said. “The exchange has focused on companies looking to near term production who have done...