On 19 July 2024, Llinks Hong Kong successfully assisted CLSA Premium Limited (the “Company” or “CLSA”, stock code: 6877.HK) on obtaining the Stock Exchange of Hong Kong Limited’s (the “HKEX”) approval for the resumption of trading in the Company's shares (the “Resumption”).
CLSA was listed on main board of HKEX on 3 July 2013. Since 25 April 2023, the trading of the Company’s shares on HKEX has been suspended (the “Suspension”) due to the decision by the Listing Division of HKEX (“Listing Division”). The Suspension decision was made pursuant to the non-compliance with Rule 13.09 and 13.24A of Rules Governing the Listing of Securities on the HKEX (the “Listing Rules”).
In 2019, after taking legal advice as to the relevant laws of the PRC, the Company took a conservative approach and ceased the operation of its margin dealing business in the PRC. The Company then embarked on exploring various avenues to boost its revenue. This included, among other things, business ventures such as the Healthcare Business.
CLSA has established healthcare business (the “Healthcare Business”) in 2022. Since then, the Company has been developing the Healthcare Business, which demonstrated a promising growth potential. The current principal business segments of CLSA are divided into 3 parts: (i) Business to Customer (“B2C”); (ii) Business to Business (“B2B”); and (iii) Original Design Manufacturer (“ODM”).
Upon considering the application from CLSA and making several enquiries, especially the financial performance of the newly established businesses, the new business model of the Healthcare Business and strategic cooperation plans adopted by the Company, the Listing Division recognised that the Healthcare Business complies with Rule 13.24 of the Listing Rules.
Llinks Hong Kong office, as the Hong Kong legal advisor to CLSA, represented CLSA throughout the application of Resumption. Llinks Hong Kong assisted CLSA and gave prompt advice on the submission of application and collection of market data which ultimately helped the Company to achieve a positive outcome on Resumption after a 15-month suspension.
Under the Listing Rules HKEX has the right to cancel the listing of a suspended company after a trading suspension of 18 continuous months. Depending on the specific facts and circumstances of a suspended company, HKEX may at any time publish a delisting notice stating its right to delist the company if it fails to resume trading within a shorter period specified in the notice under the Listing Rules. Statistics from HKEX reveals that, as at 29 December 2023, there were 70 listed companies suspended from trading and there were 44 companies delisted in the same year.
CLSA was listed on main board of HKEX on 3 July 2013. Since 25 April 2023, the trading of the Company’s shares on HKEX has been suspended (the “Suspension”) due to the decision by the Listing Division of HKEX (“Listing Division”). The Suspension decision was made pursuant to the non-compliance with Rule 13.09 and 13.24A of Rules Governing the Listing of Securities on the HKEX (the “Listing Rules”).
In 2019, after taking legal advice as to the relevant laws of the PRC, the Company took a conservative approach and ceased the operation of its margin dealing business in the PRC. The Company then embarked on exploring various avenues to boost its revenue. This included, among other things, business ventures such as the Healthcare Business.
CLSA has established healthcare business (the “Healthcare Business”) in 2022. Since then, the Company has been developing the Healthcare Business, which demonstrated a promising growth potential. The current principal business segments of CLSA are divided into 3 parts: (i) Business to Customer (“B2C”); (ii) Business to Business (“B2B”); and (iii) Original Design Manufacturer (“ODM”).
Upon considering the application from CLSA and making several enquiries, especially the financial performance of the newly established businesses, the new business model of the Healthcare Business and strategic cooperation plans adopted by the Company, the Listing Division recognised that the Healthcare Business complies with Rule 13.24 of the Listing Rules.
Llinks Hong Kong office, as the Hong Kong legal advisor to CLSA, represented CLSA throughout the application of Resumption. Llinks Hong Kong assisted CLSA and gave prompt advice on the submission of application and collection of market data which ultimately helped the Company to achieve a positive outcome on Resumption after a 15-month suspension.
Under the Listing Rules HKEX has the right to cancel the listing of a suspended company after a trading suspension of 18 continuous months. Depending on the specific facts and circumstances of a suspended company, HKEX may at any time publish a delisting notice stating its right to delist the company if it fails to resume trading within a shorter period specified in the notice under the Listing Rules. Statistics from HKEX reveals that, as at 29 December 2023, there were 70 listed companies suspended from trading and there were 44 companies delisted in the same year.
