HKEX Stock Jumps 6% As Hong Kong Will Launch New Channel to Fast Track Tech Listings

Tiger Newspress
26 Feb

HKEX shares briefly jumped as mush as 6% to HK$364.6 in afternoon trading on Wednesday.

Hong Kong will launch a new channel on the stock exchange designed to expedite listings of tech companies, the latest move by the fundraising hub to boost attractiveness amid rising appetite of Chinese companies to raise funds offshore.

Hong Kong Stock Exchange (HKEX) is to establish a dedicated "technology enterprises channel", Hong Kong's Financial Secretary Paul Chan said on Wednesday.

The channel will facilitate specialist technology and biotechnology companies' listings in Hong Kong, particularly those already listed in the mainland, Chan said while delivering his 2025-26 budget.

A number of enterprises from the Association of Southeast Asian Nations are also applying for a listing in Hong Kong as the city races to boost its global competitiveness in terms of initial public offerings, Financial Secretary Paul Chan Mo-po revealed.

The companies that have expressed interest cover a wide range of areas, such as biotechnology, integrated logistics and mining, Chan said.

Hong Kong’s bourse operator will step up its promotion in Asean and the Middle East and actively explore collaboration with countries in those regions, including the listing of exchange-traded funds, to enrich the investment product choices in mutual markets and promote two-way capital flows, according to the financial chief.

The city bourse reports it's full year earnings on Thursday.

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