Under Chapter 3A of the Main Board Listing Rules, a sponsor is a corporation that sponsors a new listing applicant and must be independent of the applicant; the listing document must disclose whether each sponsor is independent. The sponsor helps the new applicant with the listing application and discharges the responsibilities the rules place on it; there may be a sole sponsor or several joint sponsors, in which case the Exchange must be told which is the primary channel of communication. A sponsor and an underwriter are different roles, and one institution can act as sponsor cum overall coordinator. Basis: Main Board Listing Rules 3A.02, 3A.07 and 3A.43.
The links above lead to official sources such as HKEX and the SFC. The explanation on this site summarises them and may differ from the official definition; the official documents prevail.
This page explains the HK IPO term "Sponsor" and links to related terms. Definitions are compiled from HKEX Practice Note 18 and the Listing Rules, for understanding subscription rules only — not investment advice.
