News Snapshot:
Hong Kong Exchanges and Clearing Limited (HKEX) has decided to water down its proposal to drastically raise the profit qualification for a Main Board listing in the world's third-largest stock market, yielding to strong opposition to the plan, according to a source close to the exchange. Companies seeking to raise funds on the HKEX's Main Board must have earned at least HK$80 million (US$10.3 million) in combined profits in the three years prior to the listing, compared to the current requirement of HK$50 million, the source said. The HKEX will announce the change after approvals by the Securities and Futures...
