Response to the SFC Consultation Paper on (i) the Proposed Code of Conduct on Bookbuilding and Placing Activities in Equity Capital Market and Debt Capital Market Transactions and (ii) the “Sponsor Coupling” Proposal

Capitalised terms used in this response bear the same meanings as in the consultation paper. Overall, the Group agrees that there are a number of unsatisfactory aspects to the bookbuilding and allocation process for the international placing tranche of IPOs in...