HKEx plans to change the rules to lower the listing threshold for large technology companies

CTOnews.com September 14 news, According to the financial news agency reported, Hong Kong Stock Exchange spokesman said, The Hong Kong Stock Exchange is studying to add a new chapter in the listing rules to meet the product commercialization is still in the early stage of listing financing needs of large technology companies. Earlier, foreign media reported that the Hong Kong Stock Exchange is considering lowering the revenue threshold for hard technology IPOs.

HKEX, also known as Hong Kong Exchanges and Clearing Limited, is the only institution operating the Hong Kong stock market as of 2021. Its main functions are stock settlement and clearing settlement. It is one of the major exchanges in the world, with exchanges operating in China Hong Kong and London, UK. The two major exchanges in China are the Hong Kong Stock Exchange and the Shanghai Stock Exchange. Hong Kong, Bermuda, Cayman Islands and People's Republic of China are jurisdictions where HKEx can accept listings.

The conditions to be met for listing on HKEx are as follows:

1. Operation in the two fiscal years prior to the issuance of listing documents. Market value ≥ HK$100 million and cash inflow ≥ HK$20 million at listing;

At least 100 public shareholders, the highest three holding no more than 50% of the shares at the time of listing;

Listing in an acceptable jurisdiction and hiring a sponsor within two full fiscal years;

4. The management shall remain unchanged within two years and hold at least 35% of shares with high-shareholding shareholders;

·24 months of active business record.