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Hong Kong proposes easier rules for deals, spin-offs
HKEX said the changes would cut approval steps for deals and spin-offs as Hong Kong seeks to stay competitive with London and Singapore.
- On Monday, HKEX proposed easing listing rules for large deals and spin-offs, raising the shareholder approval threshold for major transactions to 50% from 25% to boost Hong Kong's appeal as a listing venue.
- Regulators in Singapore have already relaxed similar requirements, increasing pressure on Hong Kong to remain competitive and prompting HKEX to release a consultation paper improving efficiency in cost and time.
- Proposals include cutting the spin-off waiting period to one year from three years and raising the subsidiary ownership threshold to 30% from 10%, while removing the profit test for determining transaction disclosures.
- HKEX Head of Listing Katherine said, "This reform seeks to give issuers greater flexibility and certainty in their corporate transactions," with the 10-week consultation running until November 30.
- Companies have raised $89.1 billion in Hong Kong so far this year, up 47% from a year earlier, with high technology companies accounting for $34.2 billion, or 38% of the total.
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11 Articles
11 Articles
Hong Kong Moves to Ease Listing Rules on Major Deals, Spin-Offs
Hong Kong Moves to Ease Listing Rules on Major Deals, Spin-Offs - The bourse has launched a 10-week consultation on plans to halve the threshold for transactions requiring shareholder approval and shorten the lock-up period for subsidiary spin-offs
·Beijing, China
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HKEX Seeks Further Listing Rule Easing to Help Deals, Spinoffs
Hong Kong’s stock exchange is seeking to further relax rules for publicly traded companies to conduct deals, as the Asian financial hub pushes to enhance its competitiveness as a listing destination.
·New York, United States
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Cryptocurrency News | Cryptocurrency Prices | Market CapHong Kong Stock Exchange seeks to ease listing rules for corporate deals
HKEX proposes doubling the major transaction threshold to 50% and cutting spin-off moratoriums from three years to one in sweeping listing rule
Coverage Details
Total News Sources11
Leaning Left0Leaning Right2Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
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