The stock exchange's listing committee says its decision to consider new ground rules for spin-offs has already affected applications for several intended listings.
Following a spate of spin-offs last year, the listing committee intends to issue guidelines governing the length of time a company must be listed before it can hive off part of its business separately.
It is understood the committee is considering a ban period of between two and three years.
Exchange deputy chief executive and listing division head Herbert Hui Ho-ming said: 'About three to four applications are affected because of the study.' He said the purpose of the study was to ensure that such spin-offs were conducted in a fair and equitable manner.
'It is not to restrict the companies from spinning off their businesses,' Mr Hui said.
Companies that might be affected were likely to be the newly-listed second and third liners.
The planned ban could have the undesirable effect of pushing the companies to look overseas for such listings.
