HKEX expands listing rules for Specialist Tech Companies
Changes in the listing will take effect on 31 March.
The wholly-owned subsidiary of Hong Kong Exchange and Clearing Limited (HKEX), Stock Exchange of Hong Kong Limited, said that an additional chapter will be appended to the Main Board Listing Rules.
The new listing will be regarding Specialist Technology Companies or businesses involved in the science and technology within an acceptable sector of a specialist technology industry.
“This is an exciting new development for Hong Kong’s equity markets. The new economy sector is rapidly changing the way in which we live and work, and this new route to market will support some of the most innovative and progressive companies of the future,” HKEX Chief Executive Officer Nicolas Aguzin said.
The Exchange said it gathered 90 responses for the consultation of the new chapter.
Major changes and additions to the listing rules will be on market capitalisation, research and development expenditure ratio, meaningful investment from sophisticated independent investors, and an optimised price discovery process.
Listing changes will be implemented on 31 March.