HKEX plans board for ‘new economy’

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Hong Kong Exchanges and Clearing Limited (HKEX) recently started a public consultation on launching a new board, which may lure more mainland Chinese companies to Hong Kong for listings.

The purpose of setting up the new board is to cater to start-up and tech companies currently not eligible for listing on HKEX’s main board and GEM. “The introduction of a new regulatory regime is the first step by the HKEX to attract new economy companies to come to Hong Kong for listings,” Billy Au, a partner of Mayer Brown JSM in Hong Kong, told China Business Law Journal.

Au added that a new economy company’s selection of listing venue would take into account various factors including investor interest, fund-raising capability, analyst coverage, secondary market liquidity, and other factors that help establish an investor ecosystem for new economy companies.

“HKEX and market participants have lots to do in the future to build an investor ecosystem for new economy companies in Hong Kong in order to attract Chinese companies to come to Hong Kong for listings,” said Au.

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