The Stock Exchange of Hong Kong Limited (‘SEHK’) had on 23 February 2018 launched a public consultation on “A Listing Regime for Companies From Emerging and Innovative Sectors” (the ‘Consultation Paper’).
The proposals in the Consultation Paper closely follow the “Proposed Way Forward” set out in the New Board Concept Paper Conclusions published in December 2017. The latest proposals from SEHK includes drafting the Main Board Listing Rules to (a) permit listings of biotech issuers that do not meet any of the financial eligibility tests of the Main Board of SEHK; (b) permit listings of companies with weighted voting rights structures; and (c) establish a new concessionary secondary listing route for Greater China and international companies that wish to have a secondary list in Hong Kong.
The above consultation was considered by Council with the assistance of the Company Law Committee of the Law Society. The proposed amendments to the Listing Rules are supported. A copy of the submissions can be found on the Law Society’s website: