The Hong Kong Stock Exchange has drafted new rules for the listing of specialist technology companies. The lower revenue threshold set in previous proposals will now apply to these companies.
The exchange operator would like to attract companies in the new energy, robotics, semiconductor, quantum computing, autonomous driving, artificial intelligence and new food and agriculture technology sectors. The Hong Kong Stock Exchange apparently does not want to be left behind and sees the future in supporting progressive companies that use the latest technologies. The aim is to simplify the rules for technology firms and make it easier for them to sell shares in the city, which will be effective from March 31.
Under the rules, the market capitalization of a commercial company should not be less than $764.38 million. The new approach is friendlier and more attractive to Chinese firms listed in the US and will help maintain the attractiveness of Hong Kong's capital markets amid ongoing geopolitical tensions.