These guidelines are for Applicant Issuers seeking for a listing of equity and financial instruments on LFX. Please note that all applications must be submitted through a Licenced Listing Sponsor.
Appointment of Listing Sponsor by Applicant Issuer
- Applicant Issuer is to appoint a Licenced Listing Sponsor of its choice for listing of the proposed Financial Instrument(s) including arrangement of fees and other charges. Fees between Applicant Issuer and Listing Sponsor are negotiable between them and is at their sole discretion.
- Applicant Issuer is to provide all relevant information to the Listing Sponsor who will assess the eligibility of the Applicant Issuer and Financial Instrument(s) in accordance to LFX's Quantitative and Qualitative Criteria.
- Applicant Issuer is to assist Listing Sponsor in assessing suitability and appropriateness of the proposed method of listing of Financial Instruments.
- Applicant Issuer and Listing Sponsor are to prepare an indicative schedule of listing application (to also consider any accounting, legal or other related issues that may affect such application)
Preparation for Submission of Listing Application
- Applicant Issuer and Listing Sponsor are to prepare Listing Documents/Prospectus in accordance to the LFX's Rules of the Exchange, which shall include the following details of an Applicant Issuer:
- Legal constitution including share structure and major shareholders
- Business activities and development
- Latest financial position including accounting policies, working capital and financial results, if applicable
- Management's curriculum vitae including qualifications of its Directors and Senior Executives and their shareholding, if any
- Prospects including current business position, business plan and long term business assessment
- Particulars of issue including purpose of issue, expected proceeds of issue and its utilisation, underwriting arrangements and listing expenses
- Material contracts and litigation, if any
- Other listings on other Exchanges including any dual listings
- Assessment of associated risks (risk factors)
- Accountants' report
- Responsibility statement by the Directors
- Exchange's disclaimer statements
- Further statutory and other general information
- Applicant Issuer to assist Listing Sponsor in its due diligence exercise.
- Applicant Issuer and Listing Sponsor are to prepare draft application for listing of Financial Instrument, which shall include the following:
- A formal letter of application by both Listing Sponsor and Applicant Issuer
- Two copies of Listing Documents/Prospectus
- Signed declaration by Applicant Issuer in the Listing Undertaking Form [refer Schedule C, Rules of the Exchange]
- Signed declaration by Listing Sponsor in the Sponsor's Declaration Form [refer Schedule D, Rules of the Exchange]
- Relevant supporting documents as stated in LFX's Rules of the Exchange
Submission of Listing Application by Applicant Issuer via Listing Sponsor
- Applicant Issuer is to submit fees and other charges to Listing Sponsor prior to submission of listing application or otherwise fulfill all terms and conditions agreed upon by both parties.
- Listing Sponsor is to submit draft application together with a non-refundable application fee of USD1,000.00 (excluding other incidental bank charges) on behalf of the Applicant Issuer via Telegraphic Transfer to LFX's Citibank New York Account.
- Applicant Issuer and Listing Sponsor are to ensure Listing Documents are complete prior to submission of the documents and relevant supporting documents are duly enclosed.
- Listing Sponsor is to submit final copy of listing application after verification by Applicant Issuer.
Recommendation to the Listing Committee by LFX Management
- Listing of Financial Instrument on LFX can be expected within three to four weeks upon complete submission of listing application by Applicant Issuer. Upon completion of review, Listing Officer is to submit Recommendation Report for LFX Listing Committee's approval.
- Upon approval, Listing Sponsor is to remit Initial Listing Fee [refer Listing Fees, Rules of the Exchange], excluding other incidental bank charges, on behalf of the Applicant Issuer via Telegraphic Transfer to LFX's Citibank New York Account.
- Should an application be rejected, Listing Sponsor and Applicant Issuer may appeal and resubmit its application to the Exchange Committee.
- Applicant Issuer is to provide for a minimum of one week grace period for LFX to prepare for allotment of Financial Instruments with Citibank and Deutsche Bank as the Depository Service Providers.
- Listing approval on LFX can be expected within two (2) market (business) days subject to complete submission of listing application by Applicant Issuer.
Post Listing Obligations
- Issuer and its Listing Sponsor are to adhere to the post listing obligations with respect to any material corporate disclosures and corporate actions as prescribed by the Exchange's Rules and Regulations.
- Listing Sponsor is to remit Annual Listing Fee [refer Listing Fees, Rules of the Exchange], excluding other incidental bank charges, on behalf of the Applicant Issuer via Telegraphic Transfer to LFX's Citibank New York Account.