Updates on New Board Concept Paper
Updates on New Board Concept Paper
Hong Kong’s Financial Secretary, Mr. Paul Chan, has suggested that tech and other new economy companies with weighted voting rights (WVR) structures may be allowed to list on the Main Board of the Hong Kong Stock Exchange, subject to the imposition of appropriate safeguards. It seems therefore that the Stock Exchange is planning to drop proposals put forward in its June 2017 New Board Concept Paper, that listings of such companies should be confined to a newly established third board. A transcript of Mr. Chan’s comments was published in a press release issued by the Financial Services and Treasury Bureau on 23 October 2017. Read more…