The Hong Kong Exchange issued a summary of its consultations on proposals for improving the competitiveness of the listing mechanism

On 24 July, the Hong Kong Exchange issued a document stating that it had issued a summary of its consultations on the proposal to improve the competitiveness of the listing mechanism. A total of 73 responses were received from various sectors of the market, and there was broad support for all the previous recommendations in the consultation paper. All recommendations will be adopted, with some minor modifications. For different voting rights, the market value threshold is reduced to HK$ 20 billion or HK$ 6 billion, with revenue of HK$ 600 million in the latest audited fiscal year. If the market value at the time of listing was HK$40 billion, the upper limit of the different voting rate could be raised to 20 to 1. The scheme extends to the possibility of all new applicants submitting a listing application in private。