September 5, 2017 / 3:15 AM / a year ago

Discussions on new HK board to be finalised in coming weeks - HKEX CEO

HONG KONG, Sept 5 (Reuters) - Hong Kong is expected to finalize discussions on a new stock exchange board “in the coming weeks”, Charles Li, chief executive of bourse operator Hong Kong Exchanges & Clearing Ltd (HKEX), told Reuters on Tuesday.

In June, HKEX started a consultation on the launch of a third board that could allow companies to list with dual-class share structures and would target “new economy” companies in sectors such as the internet and bio-tech.

Public consultation ended last month, with financial industry professionals still divided over the matter.

Li, speaking at a Reuters Newsmaker event, said there might be a need for another round of consultation to decide details of the implementation of the new board and weighted voting rights. Discussions would be “very intensive” around such consultations, Li added.

Hong Kong, Asia’s third-biggest equity bourse by market value, is eager to increase its exposure to new high-growth sectors to remain a global listings powerhouse. (Reporting by Anne Marie Roantree; Writing by James Pomfret; Editing by Christopher Cushing)

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