Following the listing regime for Biotech Companies in 2018, the HKEx has recently announced the expansion of listing framework to include Specialist Technology Companies, effective from 31 March.
This new listing regime aims to support the most innovative new and pre-commercial specialisttech companies in accessing capital to fund their ideas and growth. The listing requirements place additional emphasis on the business scope and scale of these companies, R&D investments, operational track records and third-party investments from sophisticated independent investors, among other criteria.
Sponsors, lawyers, and auditors should consider conducting UBO check, independence check, intellectual property search, site visit, and reputational assessment on both the specialist technology company and its third-party investors to address the additional focuses in the new regime.