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Hong Kong’s New Listing Rules for Tech Companies Likely to Enhance Diversity of Public Listings, Bosco Yiu Tells Asian Legal Business
May 19, 2023
Corporate partner Bosco Yiu spoke extensively with Asian Legal Business about Hong Kong’s new Specialist Technology Company listing regime, which provides a new listing pathway for the rapidly growing tech sector as part of Hong Kong’s pandemic recovery. In “Tech Aspirations,” published in the May 2023 issue of ALB, Bosco highlights the absence of a minimum profit requirement as the most significant provision of the new rules. He notes that early-stage specialist tech companies will reap the most benefits from such a framework, especially those with a matured incubation and a solid investor base to support their undertakings in research and development.
“A Hong Kong IPO would expand their funding base to further their R&D efforts towards or enhance commercialization,” Bosco says.
Bosco also expects the new rules to lead to diversification of the Stock Exchange of Hong Kong (SEHK).
“The new regime will enable the SEHK to capture the upcoming specialist tech listing candidates, and perhaps also attract those listed in foreign exchanges to migrate their listing or achieve a secondary listing in Hong Kong,” he says. “This will enhance concentration of investors and funds in the Hong Kong capital markets as the regional fundraising hub.”
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