Hong Kong’s push to draw Southeast Asian companies and markets into its financing orbit has scored a milestone, with the Malaysian government preparing to list a US$1.5 billion Islamic bond in the international financial centre later this week. The dual listing – sold on Bursa Malaysia and Hong Kong Exchanges and Clearing (HKEX) – marks the first concrete result of a visit to Kuala Lumpur led by Secretary for Financial Services and the Treasury Christopher Hui Ching-yu last week. The offering...
Stock exchange operator Hong Kong Exchanges and Clearing (HKEX) will allow all listing applications to remain confidential and will reduce market-capitalisation requirements for listings by start-ups and international firms immediately, it announced on Friday. Confirming a report by the South China Morning Post, HKEX will proceed with confidential filing as it proposed in March in its biggest set of listing reforms since 2018. The exchange will also reduce the market-cap requirements for...
Hong Kong is reaping rewards from a charm offensive with Malaysia as it works to enhance its attractiveness to global fundraising activities, with deals reached on Thursday during a visit to the Southeast Asian country by the city’s financial services secretary. Bursa Malaysia will become the 21st stock exchange recognised by the city’s bourse operator Hong Kong Exchanges and Clearing (HKEX), clearing the way for Malaysia-listed companies to pursue secondary listings in Hong Kong, according to...
Hong Kong Exchanges and Clearing (HKEX) would proceed with its listing reform to allow confidential filings and a lower market capitalisation requirement, as part of the exchange operator’s plan to increase its international competitiveness, two sources told the South China Morning Post. The move would be a result of the exchange’s months-long consultations with market participants that began in March, and was expected to be announced by the end of this month, the sources said. “The exchange...
Bourse operator Hong Kong Exchanges and Clearing (HKEX) is considering extending trading hours to align with moves by global peers and sharpen the city’s competitiveness as an international financial centre. HKEX and the Securities and Futures Commission (SFC) confirmed that they were discussing the matter, but did not give details. The discussion was in an early stage and options included extending the afternoon close to 5pm or even 8pm, two separate sources told the South China Morning Post....
Wall Street investment bank Goldman Sachs has cast a vote of confidence in Hong Kong’s financial future by reaffirming its “buy rating” on Hong Kong Exchanges and Clearing (HKEX), as Beijing ramps up policy support to cement the city’s status as an international financial centre. “We see multiple tailwinds to ADT [average daily turnover] and revenue growth” in the second half of this year, analysts Thomas Wang and Simone Chen wrote in a research note on Wednesday. The move comes amid weak share...
A large number of mainland Chinese companies hoping to list shares on the Hong Kong stock exchange are anxiously waiting for a nod from the mainland securities regulator, with many now at risk of having their listing applications lapse. More than 430 companies were currently waiting in the initial public offering (IPO) pipeline, according to data from bourse operator Hong Kong Exchanges and Clearing (HKEX). More than 30, including mainland supermarket chain Qiandama and EVE Energy, a...