Yes. The document must comply with requirements under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (CWUMPO)), including the requirement for SFC authorization of the prospectus followed by registration with the Companies Registry.
Q1 : Can an A-shares issuer distribute a document offering rights shares to HK investors holding its A-shares?
Q2 : Can the PRC rights offering document be sent to HK investors holding A shares?
The A-shares issuer will need to prepare a wrapper that contains the disclosure required under the CWUMPO (such as a statement that a copy of the prospectus has been registered as required by the CWUMPO). The PRC rights offering document together with the wrapper will constitute the HK prospectus which must be authorized by the SFC and registered with the Companies Registry. HK investors may only be given the HK prospectus (i.e., the PRC rights offering document together with the wrapper).
Q3 : Are there any language requirements for the HK prospectus?
Similar to other corporate communications made by A-shares issuers to their shareholders, the prospectus for an A-shares rights issue may be written in simplified Chinese only. There is no translation requirement under the CWUMPO for rights issue prospectuses.
Q4 : To which department of the SFC should an A-shares issuer direct its enquires and/or submit its application?
The A-shares issuer should contact the Corporate Finance Division through email at email@example.com or telephone at 2231 1249.
Last update: 1 Dec 2017