Hong Kong Stock Exchange Reforms

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Hong Kong market

South China Morning Post

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Hong Kong exchange's IPO reforms would draw more listings, bankers say

Summary

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89% Informative

Hong Kong Exchanges and Clearing (HKEX) seeking public feedback until March 19 on its plan to substantially reduce the public float requirement and increase the proportion of new shares for subscription by institutional investors.

Under current rules, IPOs must offer, or float, at least 25 per cent of their total issued shares to the public at a market value of at least HK$125 million ( US$16 million ).

The proposed change makes "the right move" because institutional investors have the resources to conduct in-depth analytical research in setting the final offer price for an IPO , Au said.

"It is also a good initiative for the listed companies," he said of the proposed change.

"The IPO rules need to be updated to attract more global institutional investors," Au added.

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formal

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English

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