January 24, 2018 / 4:35 AM / 4 months ago

Hong Kong exchange says firms enquiring about dual class share system

HONG KONG, Jan 24 (Reuters) - Hong Kong Exchanges and Clearing (HKEX) said it had received some enquiries from companies for dual-class share listings as it pushes ahead with proposed rule changes to accommodate the new listing structure.

“Completing the listing reform is one of our top priorities, in order to secure our relevance as a premier global capital formation centre,” HKEX CEO Charles Li said in a statement on Wednesday as he outlined the exchange’s strategic goals for 2018.

“We have already received some enquiries about listing under the new regime, and we plan to consult the market on proposed rule changes before the end of this quarter,” he said.

Hong Kong is pushing ahead with dual-class shares as it raises the stakes in the city’s battle with New York to attract blockbuster Chinese IPOs. (Reporting by Kane Wu; Writing by Anshuman Daga; Editing by Edwina Gibbs)

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