Hong Kong Exchanges to Allow Confidential Listings and Lower Market Cap Thresholds by End of July

According to South China Morning Post, Hong Kong Exchanges and Clearing Limited (HKEX, 00388) will allow startups to submit listing applications confidentially and lower market cap thresholds to attract more initial public offerings, with an announcement expected by the end of July, two sources told the publication.

The measures follow months of consultation with market participants starting in March, HKEX CEO Edmond Leung said last month. Currently, biotech and specialized tech companies can opt for confidential submissions. The exchange plans to extend this to all applicants and reduce valuation barriers, including for companies with multiple voting rights structures, to compete internationally for emerging startups.