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Hong Kong Regulator Opposes Proposal to Allow Dual-Class Shares

Hong Kong’s securities regulator opposes a plan by the city’s bourse to allow dual-class listings.

The Securities and Futures Commission said its board “unanimously concluded that it does not support the draft proposal” by Hong Kong Exchanges & Clearing Ltd. Under HKEx’s plans, there is “no assurance that a company would treat its shareholders fairly,” the SFC said in an e-mailed statement.