Shulou(Shulou.com)11/24 Report--

CTOnews.com December 23 news, Kingsoft announced in the Hong Kong Stock Exchange that the company has applied for a dual major listing of its shares on the main board of the Hong Kong Stock Exchange. The shares are listed on the main board of the Hong Kong Stock Exchange only in the form of introduction and no shares have been issued or sold for the purpose of listing. Trading in the shares is expected to commence on the Hong Kong Stock Exchange on Friday, December 30, 2022.

It is reported that the shares will be linked in Hong Kong, so each hand of 2000 shares will be traded as trading units. Trading of the shares on the Hong Kong Stock Exchange will be conducted in Hong Kong dollars. The stock code of the shares on the Hong Kong Stock Exchange is 3896.

CTOnews.com learned that Jin Shanyun said that after successfully landing in Hong Kong stocks, the company will continue to focus on strategically selected vertical areas, strengthen existing technical barriers, enhance business resilience and sustainable development, and pay more attention to the improvement of profitability.

According to the listing rules of the Stock Exchange of Hong Kong, the "introduction listing" mode can generally be adopted in three cases.

First, the securities applying for listing have been listed on another stock exchange, commonly known as "transfer listing". From the Hong Kong gem to the main board listing belongs to this type.

Second, the securities of the issuer shall be distributed by a listed issuer to its shareholders or the shareholders of another listed issuer in kind.

The last one is that this model is sometimes used in stock exchange listing. For example, the SEHK requires that overseas issuers issue securities in exchange for the securities of one or more Hong Kong listed issuers, and the listing status of the Hong Kong issuer will be revoked at the same time as the securities of overseas issuers are listed.

"introduction listing" can separate corporate financing and securities listing in time, giving enterprises more flexibility. For example, some companies have the need for spin-off and listing, but there is no need for financing for the time being.

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