13 October, 2012


Legal News & Analysis – Asia Pacific – Hong Kong – Capital Markets


In August 2012, the Exchange published guidance letter GL40-12 setting out the principles that apply and key issues that a listing applicant should address when considering listing a business trust. The guidance also suggests possible approaches listing applicants may consider in order to address a particular issue. 
The overriding principle is to ensure that holders of units in business trusts are subject to comparable investor protection standards to those required of Hong Kong corporate issuers and that key relevant Securities and Futures Ordinance (SFO) provisions must be able to apply. Early consultation is strongly recommended. 
For a copy of the guidance letter GL40-12, please follow the link:   



For further information, please contact:
Tony Grundy, Partner, Morrison Foerster
John Moore, Partner,  Morrison Foerster


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