HKEX considers new listing chapter for tech firms at early stage of product commercialization
Published: Sep 14, 2022 08:23 PM
HKEX File Photo

HKEX File Photo

Hong Kong Exchanges and Clearing (HKEX), the operator of Hong Kong's stock exchange, may add a new listing chapter to cater to large technology firms whose products remain in their early stages of commercialization.

The exchange operator will continue to push for varied measures to ensure that its market and listing regimes are sufficiently appealing and internationally competitive. It will also continue to improve its supervision, according to an HKEX statement sent to the Global Times on Wednesday.

"We're mulling over the addition of a chapter to the listing rules to cater to the listing and fundraising needs of large technology firms that are still at the early stage of commercializing [their] products," read the statement.

The market will be updated if there are any new developments, according to the bourse operator, which didn't give a time frame for the availability of the new listing chapter.

Earlier on Wednesday, a Bloomberg report said that HKEX is weighing a system that will lower the revenue threshold for hard-tech firms seeking to float in the city, citing people familiar with the matter.

The revision was intended to accommodate companies in sectors including artificial intelligence, semiconductors, autonomous driving vehicles and smart manufacturing, according to the report.

"The HKEX could seek public consultation as soon as this month and aims to finalize the plan by the year's end," the report said.

Global Times