RL&P News 30 July 2021
Advised China International Capital Corporation Hong Kong Securities Limited as Malaysian counsel, as the sponsor and underwriter in relation to the proposed dual primary listing of Top Glove Shares on The Stock Exchange of Hong Kong Limited and the proposed offering of Top Glove Shares.
The proposal involves the first primary dual listing of shares in a Malaysian company on The Stock Exchange of Hong Kong Limited (“SEHK”). This involves an application to the Listing Committee of the SEHK for Malaysia to be included in the list of acceptable overseas jurisdictions. A company incorporated in a jurisdiction other than Hong Kong, China, Bermuda and the Cayman Islands must demonstrate that its domestic laws, rules and regulations and its constitutional documents and potential arrangements that can be adopted, have standards of shareholder protection which are at least equivalent to those provided in Hong Kong so that the jurisdiction in which the company is incorporated can qualify as an acceptable overseas jurisdiction eligible for listing on the SEHK.