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Initial Public Offering in Hong Kong

11 July 2007

cklow

Guest speaker: Chee Keong Low, Associate Professor in Corporate Law, The Chinese University of Hong Kong

Chee Keong is currently an Associate Professor in Corporate Law with research interests in issues pertaining to corporate governance and the regulatory framework of capital markets.

Pictured Chee Keong Low and Phillip Lipton.

Chee Keong Low's publications include scholarly articles in internationally refereed academic journals in Australia, Hong Kong, Singapore, the U.K. and USA as well as seven books. Presently his research is supported by private sector grants from the CLP Group, Ernst & Young, Noble Group Ltd. and Tricor Services Ltd. He is a member of the Listing Committee of the Stock Exchange of Hong Kong and a member of the International Advisory Board of the Centre for Corporate Law and Securities Regulation at the University of Melbourne. Chee Keong also serves in various academic advisory capacities to the Hong Kong Institute of Certified Public Accountants and the Hong Kong Institute of Chartered Secretaries.Associate Professor Low addressed three inter-related issues with respect to the Inital Public Offerings (IPO) process:

  • Should directors be held accountable for the under pricing of the IPO of the company which is tantamountto a sale of an asset of the company at a substantial discount?
  • Is the increasingly common practice of introducing cornerstone investors during IPOs a breach of theprinciples of equity under the Listing Rules?
  • What becomes of the interest income that is generated by companies placing the application moneys from IPOs in overnight money market accounts as they prepare to allot shares to subscribers?

>>download presentation (.pdf, 194kb)

This seminar highlighted some shortcomings of the existing system and put forth recommendations for their rectification and a more equitable process for IPOs in Hong Kong.

If this particular educational activity is relevant to your immediate or long term needs in relation to your professional development and practice of the law, then you should claim one unit for each hour of attendance, refreshment breaks not included.

Acting Group Director

Anthony Forsyth
Email Anthony Forsyth
Tel: + 61 3 9903-2917


  
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