HKEx responds to the secondary listing of China Stocks in Hong Kong “as long as the rules are met, all are welcome”
A HKEx spokesperson responded that due to its limited role, HKEx cannot comment on individual companies or listing enquiries. He also pointed out that Hong Kong has always been the preferred listing place for overseas financing by mainland enterprises.
Beijing News (Reporter promises) On January 13, Beijing News reporters reported to the Hong Kong Stock Exchange on rumors that the companies in China, such as Baidu, Netease, and Ctrip, had plans to go to Hong Kong for a secondary listing. Verify. A HKEx spokesperson responded that due to its limited role, the HKEx cannot comment on individual companies or listing enquiries. For questions about its listing intention or progress, it is necessary to consult relevant companies in detail.
“Whether it is a primary or secondary listing, as long as it meets the requirements of the Hong Kong Listing Rules, we welcome it.” The spokesman also said that the Hong Kong Stock Exchange does not have the issue of assisting companies in listing. “In terms of attracting new economy companies to go public, the main work we have done is to reform the listing system in accordance with market demand and remove some obstacles that hinder the listing of new economic companies.”
The spokesman said that the new Listing Rules introduced in 2018 had three new chapters and corresponding amendments to the original Listing Rules to allow biotech companies that failed the main board financial qualification test to go public and allow owners to The listing of companies with different voting rights structures provides a convenient secondary listing channel for Greater China and international companies seeking a secondary listing in Hong Kong.
“There may be many considerations for companies to choose where to go public. As for the companies you mentioned, whether to choose to come to Hong Kong for listing, when to come, or whether to return to A shares in the future are the company’s own decisions, we cannot answer.” Means. However, he also pointed out that Hong Kong has always been the preferred listing place for overseas financing of Mainland enterprises. As China’s international financial center, Hong Kong has a unique advantage. It is the main link between China and the global capital markets and plays a key role in the economic development of the Mainland.
He said that the Shanghai-Shenzhen-Hong Kong Stock Connect provided convenient and effective cross-border channels for China to connect to the global market, bringing together a large number of and diversified investors, and helping to promote market circulation; the Hong Kong market can conduct IPOs of different sizes. The ability to attract a considerable number of investors to participate, and to set the ideal price for the IPO, etc., are all advantages of the Hong Kong market.
At the beginning of 2019, the three-year strategic plan formulated by the Hong Kong Stock Exchange focused on the three strategies of “based on China, connected to the world, and embraced technology”, which further opened the window for mainland technology companies to open funds globally. This year, the Hong Kong Stock Exchange topped the global IPO rankings again, winning the title for the sixth time in ten years. Public data shows that since September last year, the listing activity of the Hong Kong Stock Exchange has rebounded significantly. By the fourth quarter, the number of listed companies had reached the highest level in years. Among them are Alibaba’s secondary listings, which have attracted the attention of domestic and overseas markets.
At the launch of the new strategy, Li Xiaojia, the president of the Hong Kong Stock Exchange, explained in his blog, “If we consider our business as an aircraft, based on China and connecting the world, we will be two aircraft wings. Engines are indispensable. If there is only one engine, the aircraft cannot fly far. Embracing technology is the new fuel for our aircraft. Through technological empowerment and technological innovation, we can fly higher, faster, and farther. “In this metaphor, it is not difficult to see the significance of the new economic enterprises from the Mainland to the Hong Kong Stock Exchange.
Beijing News reporter Xu Nuo Editor Zhao Ze Proofreading Fan Jinchun