Hong Kong Launches New listing Regime

The Hong Kong Stock Exchange’s new listing regime has come into effect. The regime allows: (1) innovative companies to primary list with weighted voting rights; (2) innovative US or London-listed companies (with or without weighted voting rights and including those with a “centre of gravity” in Greater China) to secondary list with the benefit of certain concessions; and (3) pre-revenue biotech companies to primary list, in each case on the Main Board.

In our Client Briefing on the Listing of Innovative Companies, we analyse the requirements for companies from emerging / innovative sectors to primary or secondary list under the new rules, and highlight the changes the Exchange has made to the regime as a result of market feedback to its earlier consultation. Our Client Briefing on Biotech Listings focusses on the regime for pre-revenue biotech companies.