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Hong Kong Targets Next Alibaba in Revamp of IPO Rules

  • Bourse announces moves to lure likes of tech giants for IPOs
  • Profitability requirement also ditched for biotech firms
Hong Kong Stock Exchange

Hong Kong Stock Exchange

Photographer: Anthony Kwan/Bloomberg

Hong Kong’s stock exchange proposed to let “innovative” companies list in the Chinese enclave with dual-class share structures to avoid losing out on more initial public offerings by technology giants like Alibaba Group Holding Ltd.

Allowing shares with extra voting power is part of a package of measures released Friday that may be the biggest change to the exchange’s listing rules since 1993, when it allowed large Chinese enterprises to go public there.