Deals

Hong Kong Listings Rule Changes Set to Transform Market, Li Says

HKEX on Friday proposed allowing dual-class share companies
Profitability requirement for biotech companies also dropped

HKEX’s Charles Li discusses the exchange’s proposed changes to dual-class shares and his outlook for the IPO market.(Source: Bloomberg)

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By Benjamin Robertson and Rishaad Salamat

December 18, 2017 at 3:07 AM UTC

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Hong Kong Exchanges & Clearing Ltd.’s proposal to change which companies are eligible to list in the city will boost the pipeline of initial public offerings, according to Chief Executive Officer Charles Li.

Technology and so-called new-economy companies with a dual-class share structure, and biotechnology firms that don’t have a track record of profitability, will be able to apply to list in the city under HKEX’s plans, which were unveiled on Friday.