[Last updated: 1 January 2024, unless otherwise noted]

Large companies. The financial criteria for companies with a large market capitalization are different from smaller companies. These differences include:

• Acceptance of a shorter trading record period under the market capitalization/revenue test if the applicant is able to demonstrate that its directors and management have sufficient and satisfactory experience of at least three years in the line of business and industry and there is management continuity for the most recent audited financial year.
• Acceptance of a lower percentage of public float (between 15% and 25%) for issuers with an expected market capitalization of over HK$10 billion (approximately US$1.28 billion) at the time of listing, compared with the usual 25% as described in section 2 above.

Small companies. There are no additional requirements, or changes in the normal requirements, that apply to smaller companies listing on the Main Board.

Specific industries. Companies in certain industries are subject to modified listing and maintenance rules. For example, innovative companies, pre-revenue biotech companies, mineral companies, infrastructure companies, investment companies, specialist technology companies have separate chapters in the Main Board Listing Rules which are dedicated to each of these types of companies. In addition, the HKSE may accept a shorter trading record period and/or may vary or waive the profit or other financial requirements for pre-revenue biotech companies, mineral companies, newly formed project companies (infrastructure projects) or specialist technology companies.

The HKSE has the discretion to determine whether a particular company is suitable for listing in Hong Kong. In general, an issuer whose assets consist wholly or substantially of cash or short-term investments will not be regarded as suitable for listing, except for cash or short-term investments held by a member company that is a banking company, an insurance company or a securities house.

"Fast track" listings. The HKSE does not have a "fast track" or expedited listing procedure. However, for cases where all the necessary information is already available, the listing process could be much shorter than usual.