HKEX Floats Plan on Lower Thresholds for Dual-Class Listings

MT Newswires Live03-13 13:37

The Hong Kong Stock Exchange published a consultation paper outlining proposals to enhance the competitiveness of the city's listing framework, according to a Friday press release.

Key proposals include lowering the market capitalization threshold for companies seeking weighted voting rights (WVR) listings to HK$20 billion.

Companies with HK$6 billion in market capitalization and at least HK$600 million in revenue would also qualify under the proposal, compared with the current requirements of HK$40 billion, or HK$10 billion with HK$1 billion in revenue.

The exchange also suggested raising the weighted voting cap, easing secondary listing requirements for overseas issuers, expanding confidential filing to all new applicants, and allowing broader use of U.S. GAAP.

The consultation will run for eight weeks until May 8.

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