News Snapshot:
Consultation responses suggest that HKEX’s proposal to raise the profit requirement for Main Board listing IPOs will drastically reduce its competitiveness. Ten small and medium-sized sponsor firms have jointly opposed the HKEX (Hong Kong Exchanges and Clearing) consultation on increasing the profitability requirements for listing on the Main Board. The consultation, issued in November , proposed to raise the profit requirement for companies seeking to list in Hong Kong from the current HKD 20 million to either HKD 50 million or HKD 60 million, to improve the quality of companies seeking to list in the city. The profit requirement was...
