PrepLicense: HK SFC · Study Notes · Paper 11

SFC Paper 11: Corporate Finance

Paper 11 covers product knowledge for corporate finance: listing methods, IPOs, M&A and corporate restructuring.

1. 香港主要上市方式

Main listing routes: IPO, listing by introduction, placing, dual primary listing and secondary listing.

IPO process: sponsor appointment → due diligence → A1 application → Listing Committee hearing → marketing → pricing → trading commences.

The prospectus covers business description, industry, financial statements, directors, risk factors, use of proceeds and applicable laws.

M&A forms include general offers, partial offers, privatisations (scheme of arrangement or offer merger) and reverse takeovers.

Crossing 30% holding, or acquiring an additional 2% within 12 months while holding 30–50%, triggers a mandatory general offer.

Restructuring types: share consolidation/split, debt restructuring, spin-offs, asset injections and white-knight cash injections.

Independent study aid. Not affiliated with or endorsed by the SFC or HKSI Institute.

本應用為獨立學習工具，與證券及期貨事務監察委員會（SFC）及香港證券及投資學會（HKSI Institute）無關，亦未獲其認可。