Consultation Paper on Capital Raisings by Listed Issuers
Consultation Paper on Capital Raisings by Listed Issuers
The Stock Exchange of Hong Kong Limited (the Stock Exchange) has published a Consultation Paper on Capital Raisings by Listed Issuers (Capital Raisings Consultation Paper). The paper proposes certain changes to the Listing Rules to address potential abuse by some listed issuers in large, deeply discounted fund raisings, and certain share consolidations and subdivisions. The Hong Kong Stock Exchange believes that these capital raising activities materially dilute voting rights and the value of public shareholders’ investments. Read more…