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2021-04-30 07:05 By: Xinhua
HONG KONG, April 29 (Xinhua) Three years after a major listing reform, new economy companies have made the bulk of Hong Kong s initial public offering (IPO) market, fueling a new growth story of the global financial hub.
The new listing rules, which came into force on April 30, 2018, allow pre-revenue biotech companies, new economy companies with weighted voting rights structures, and qualified overseas-listed companies to raise capital in Hong Kong.
By the end of March, 146 new economy companies had listed in Hong Kong since then, raising a total of 682.2 billion Hong Kong dollars (about 88 billion U.S. dollars), and accounting for 61 percent of the total IPO fund-raising, Hong Kong Exchanges and Clearing Limited (HKEX) said Thursday.
2021-04-29 09:36:04 GMT2021-04-29 17:36:04(Beijing Time) Xinhua English
HONG KONG, April 29 (Xinhua) Three years after a major listing reform, new economy companies have made the bulk of Hong Kong s initial public offering (IPO) market, fueling a new growth story of the global financial hub.
The new listing rules, which came into force on April 30, 2018, allow pre-revenue biotech companies, new economy companies with weighted voting rights structures, and qualified overseas-listed companies to raise capital in Hong Kong.
By the end of March, 146 new economy companies had listed in Hong Kong since then, raising a total of 682.2 billion Hong Kong dollars (about 88 billion U.S. dollars), and accounting for 61 percent of the total IPO fund-raising, Hong Kong Exchanges and Clearing Limited (HKEX) said Thursday.
HKEX Celebrates Third Anniversary Of New Listing Regime Date
61% of HKEX IPO funds raised from New Economy listings in past three years
Hong Kong has become Asia’s largest and the world’s second largest biotech fundraising hub, with 31 pre-revenue biotech companies listings
13 new homecoming listings welcomed, raising a total of HK$285.8 billion
Hong Kong Exchanges and Clearing Limited (HKEX) this week celebrates the third anniversary of its New Listing Regime. In 2018, HKEX launched three new chapters in Hong Kong’s listing rules to allow pre-revenue biotech companies, New Economy companies with weighted voting rights (WVR) structures, and qualified overseas listed companies to raise capital in Hong Kong, fuelling a new growth story in Asia’s leading international capital market.
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28 Apr, 2021 Author Rebecca Isjwara
Hong Kong Exchanges and Clearing Ltd. is facing a softening in trading volumes as it enters the second quarter after a record performance in the first three months of 2021, though the bourse operator expects to attract more liquidity from mainland China and stay one of the world s top IPO destinations. It s only April, I can t say too much about the projection of the second quarter, the exchange s interim CEO Calvin Tai said at an April 28 earnings call with journalists. When I say softer, it s in comparison to the first quarter, which is exceptional. If we look at April volume, even though we said softer, it s still roughly 20% higher than the ADT [average daily turnover] last year. While the market liquidity is still pretty high, we ve seen that it s not as high as in January or February.