HKEX to Allow Confidential IPO Filings, Cut Start-Up Market Cap Thresholds by Month-End
Updated
Updated · South China Morning Post · Jul 21
HKEX to Allow Confidential IPO Filings, Cut Start-Up Market Cap Thresholds by Month-End
3 articles · Updated · South China Morning Post · Jul 21
Summary
HKEX is set to announce by the end of July that it will permit confidential listing filings and lower market-cap thresholds for start-ups, according to sources.
The changes follow consultations launched in March and are aimed at helping Hong Kong compete with overseas exchanges that already let companies keep some IPO details private.
Under the new mechanism, listing candidates could withhold certain disclosures until after the exchange approves their applications.
Market-cap requirements for weighted voting rights companies and international listings may also be reduced from the levels HKEX originally proposed in March.
Sources said most market participants backed confidential filings, reinforcing the exchange’s push to attract more start-ups to list in Hong Kong.