HKEX to smooth the path for tech listings
HKEX to smooth the path for tech listings
Hong Kong Exchanges and Clearing will set up a dedicated team to communicate with firms to provide support for their listing applications. File photo: RTHK
Chief Executive John Lee said on Tuesday the city's bourse operator will soon launch a scheme to facilitate listings by technology and biotechnology firms.
The dedicated "Technology Enterprises Channel", announced by the Financial Secretary Paul Chan in his budget speech in February, is aimed at boosting the appeal of the city's fundraising capability amid growing appetite among mainland firms for raising funds offshore.
Speaking ahead of the weekly Executive Council meeting, Lee said Hong Kong Exchanges and Clearing (HKEX) will set up a dedicated team to communicate with firms to provide support for their listing applications.
"Our aim is to enhance understanding of the relevant listing rules among enterprises and sponsors and to conduct preliminary communications with them on different important topics, such as the applicability and assessment of the firms' specific businesses," Lee said.
"The Securities and Futures Commission will also closely cooperate with HKEX to provide support during the process.
"With better preparations made by the relevant firms, we hope to make their application process smoother and more convenient, allowing more different technology firms to list in Hong Kong."
He added that more details on the scheme will be provided by the HKEX later in the day.
Lee also noted that the city has opened up new opportunities for scientific and technological innovation cooperation between Zhejiang and Hong Kong – following a visit to the mainland's southeastern region during which the two sides set up a mechanism to strengthen collaboration in 13 key areas covering more than 50 projects.
The SAR government, he said, will provide more assistance for tech firms to speed up the development of applications of technologies after having exchanges with representatives from six local tech firms in Hangzhou that are known as the "Six Little Dragons".
Lee said such visits have also promoted investments by Zhejiang enterprises in Hong Kong as some enterprises there plan to set up headquarters and research and development centres in the SAR and that over half of those planned projects will be implemented this year.
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