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HKEX Releases Listing Committee Report for 2024, Aims to Finalize Proposals to Optimize IPO Price Discovery This Yr
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The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEX (00388.HK), has published its Listing Committee Report for 2024, which includes a review of the committee’s work during the year and an overview of its policy agenda for 2025 and beyond. In 2024, the Listing Committee considered 80 listing applications and 32 disciplinary cases, in addition to hearing three review cases and one application made pursuant to Rule 2A.14 of the Listing Rules. The Exchange welcomed the listings of three Specialist Technology Companies under Chapter 18C of the Listing Rules, three new listings on GEM since the implementation of the GEM Listing reforms in January, and the completion of the first De-SPAC transaction. During the year, the Exchange concluded various market consultations and implemented new Rules to align its climate disclosure requirements with international standards, enhance the Corporate Governance Code to strengthen issuers’ board effectiveness, and introduce the treasury shares regime to give issuers greater flexibility in responding to market conditions. The Exchange also introduced new Rules to further expand its paperless listing regime and implement severe weather trading in Hong Kong. To ensure its listing regime is fit for purpose and meets the needs of a changing market, the Exchange and the Securities and Futures Commission also published joint announcements to make temporary modifications to the requirements for listing Specialist Technology Companies and De-SPAC Transactions, as well as to implement an enhanced timeframe for the new listing application process (including the introduction of an accelerated timeframe for eligible A-share listed companies). Renu Bhatia, Chairman of the Listing Committee, said that he looks forward to finalizing this year the proposals to optimize IPO price discovery and open market requirements based on the market’s feedback. AAStocks Financial News |
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