Use of Legal Technologies in Hong Kong IPO practice
As an international financial hub, Hong Kong is the world’s leading IPO venue as it has been ranked no.1 in seven of the past 12 years . In practice, the IPO transactions involve some time-consuming and labor-intensive tasks which are administrative or repetitive in nature. Law firms try to deal with this issue and reduce costs by hiring more paralegals. Similarly, Hong Kong Exchanges and Clearing Limited (“HKEX”) tries to solve the problem by expanding its vetting teams. However, both law firms and HKEX can instead use legal technologies. For law firms, one of the most time-consuming and labor-intensive tasks is to draft and verify the prospectus. A machine can take over this task by involving supervised and unsupervised machine learning and chatbot (the “Drafting Machine”). The main design of the Drafting Machine is to achieve: on the one hand, with unsupervised machine learning algorithms it identifies similar wordings on disclosure from listed company prospectuses, as well as outliers; on the other hand, it has the readily available data from due diligence documents that contain the information specific to the listing applicant. With document assembly function, the Drafting Machine will then keep the similar wordings from precedent prospectuses, and replace the outliers with the information specific to the listing applicant relying on natural language processing. While for HKEX, a Vetting Machine can assist the vetting process by reviewing the prospectus and generating preliminary comment letters by involving supervised machine learning, e-signature and blockchain
Year of publication: |
[2022]
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Authors: | Zhou, Iris Jingyu |
Publisher: |
[S.l.] : SSRN |
Subject: | Börsengang | Initial public offering | Hongkong | Hong Kong | Technischer Fortschritt | Technological change |
Saved in:
freely available
Extent: | 1 Online-Ressource (13 p) |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 6, 2020 erstellt |
Other identifiers: | 10.2139/ssrn.4038285 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10014361334
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