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Bonnie Chan: HKEX Keeps Advancing Listing Reforms w/ 100+ Firms Queuing for Listing under Chapter 18A or 18C
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In the latest Budget, Financial Secretary Paul Chan mentioned that the authorities requested HKEX (00388.HK) to review relevant listing regulations to facilitate and attract more aerospace companies to list in Hong Kong. According to hearsay, HKEX will complete the review within the year and conduct market consultation. HKEX CEO Bonnie Chan responded that the exchange has been incessantly reforming its listing system since 2018, adjusting listing requirements and qualification thresholds, and introducing Chapter 18A, 18B, and 18C, which are designed for biotech companies that have yet to make profit, special purpose acquisition companies, and specialist technology companies, respectively, to meet the needs of different companies. More than 100 companies are lining up to apply for listing under Chapter 18A or 18C, and it is difficult to say at this juncture whether new listing chapters like 18D will be introduced in the future, said Chan, while stressing that listing reforms will continue to support the development of the real economy. Regarding rumors that HKEX is contemplating wider scope of confidential listing applications, Chan responded that the exchange has an all-round consideration of listing thresholds, processes, listing requirements, and ongoing compliance requirements. When the time is right, detailed announcements will be made following the usual public consultation procedures. AASTOCKS Financial News Website: www.aastocks.com |
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