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HKEX Slips ~1% After Midday as CN Reportedly Planning to Heighten Thresholds for CN Firms' HK IPOs & Dual Listings
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The China Securities Regulatory Commission (CSRC) is considering raising the regulatory and compliance thresholds for Chinese firms' H-share issuance in Hong Kong, a move aimed at addressing the concerns about the quality of transactions amid a recent offshore financing boom, Bloomberg reported, citing informed sources. HKEX (00388.HK) headed south after midday. It last traded at HKD422.6, down 0.9%. According to the informed sources, one of the potential measures the CSRC is contemplating is setting a minimum market capitalization limit. It is also thinking about putting up stricter scrutiny for companies seeking dual listings in Hong Kong. A person familiar with the matter also disclosed that a Chinese broker had been instructed to set the market capitalization threshold at RMB30 billion for Chinese companies seeking dual listings in Hong Kong, and that companies with smaller market capitalizations may not receive registration approval from the CSRC. The proposal is still under discussion, and no final decision has yet been made. AAStocks Financial News |
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