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Hong Kong Listings Subject to Cyber-security Review Under CAC Draft Regulations, Lawyers Say

Regulatory Intelligence

23 Nov 2021

MoFo partner Ruomu Li was quoted in a Regulatory Intelligence article on the newly released CAC draft regulations which made it clear that Chinese companies will be required to apply for a cyber-security review when listing in Hong Kong if national security concerns exist.

According to Ruomu, It was unclear whether cyber-security reviews would only apply to IPOs, or what would happen about de-SPAC (special purpose acquisition company) transactions, but the CAC has never done reviews in connection with IPOs before; it would take time for CAC to implement and approve such a regime from scratch, and before it would actually work.

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