HKEx: Duel over dual listings

Fed up with losing lucrative tech IPOs like Alibaba's, the bourse is determined to have a second go at dual-class shareholdings. But convincing the SFC and investors will not be easy.

Investors in Hong Kong can be forgiven for having a sense of déjà vu now that the city is looking again to square the circle for technology companies that are at once drawn to its highly liquid stock market yet repelled by its strict listing rules.

Ever since the city lost Alibaba’s record $25 billion initial public offering in 2014 to New York, the Hong Kong Exchanges and Clearing HKEx has been sweating hard to attract hot technology deals, primarily from China.

Dual-class shareholdings, whereby one set of shares typically held by the founding partners have more voting rights than publicly held shares, are the...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222