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Rivals Singapore and Hong Kong Fight to Snag the Hottest IPOs

  • Singapore set for rule change after prime minister’s blessing
  • Hong Kong moots new share class for possible third exchange
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Here's Why Hong Kong and Singapore Are at It Again

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Hong Kong and Singapore are at it again. The Asian financial hub rivals are reviving a debate on dual-class shares as global competition for the hottest initial public offerings intensifies.

Singapore is a few steps ahead. Prime Minister Lee Hsien Loong last week gave his approval to dual-class shares and other measures proposed by a panel to drive economic growth. The city-state’s stock exchange on Thursday started a public consultation, a final hurdle before allowing the structure. Hong Kong Exchanges & Clearing Ltd. Chief Executive Officer Charles Li in January revisited the topic after a 2015 proposal was shot down by his regulator.