HKSI Paper 1 Accessing public capital question: Delisting after continuous suspension

HKSI Paper 1Accessing public capital

Trading in the shares of Sham Shui Po Textiles Ltd (Main Board) and of Lantau Media Ltd (GEM) has been suspended continuously since 1 April 2025. From when may the Exchange cancel each listing for continuous suspension?

A Both from 1 April 2026, because the period is 12 months on both boards
B Both from 1 October 2026, because the period is 18 months on both boards
C Sham Shui Po from 1 April 2026 (12 months); Lantau from 1 October 2026 (18 months)
D Sham Shui Po from 1 October 2026; Lantau from 1 April 2026

Show the answer and explanation

Answer: D. Sham Shui Po from 1 October 2026; Lantau from 1 April 2026

Main Board Rule 6.01A(1) lets the Exchange cancel the listing of securities suspended for a continuous period of 18 months; 18 months from 1 April 2025 is 1 October 2026. GEM Rule 9.14A(1) sets a shorter continuous period of 12 months, so Lantau can be delisted from 1 April 2026. The periods are not the same on both boards, and the GEM period is the shorter one, not the longer. These rules sit alongside the Exchange's general power in Rule 6.01 to suspend or cancel a listing to protect investors or keep an orderly market. Source: Main Board Listing Rules r.6.01, r.6.01A(1); GEM Listing Rules r.9.14A(1) (as at October 2026).

Common mistake

Reversing the periods. GEM, the smaller-company market, has the shorter fuse: 12 months against the Main Board's 18.

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Original study material mapped to the public HKSI Paper 1 syllabus. Unofficial, not endorsed by HKSI Institute or the SFC. Verify figures and rules against current guidance before relying on them.