Li Xiao Canada
Hong Kong Stock Exchange Chief Executive Li Xiaojia said on June 4 that many Chinese companies listed in the US may be listed on the Hong Kong Stock Exchange this year.
According to Reuters, Li Xiaojia said at a webcast conference: “This year will be an important year for the IPO, which includes both super-large from China Large-scale IPOs also include many companies returning from the United States.”
Li Xiaojia added that many Chinese companies listed in the United States are listed in the United States because of the Hong Kong The requirements of the Stock Exchange on corporate governance and dual shareholding structure are more stringent. They do not meet the requirements and cannot be listed. Recently, the Hong Kong Stock Exchange has issued new IPO regulations, which have fundamentally reformed many aspects of the listing system, making listing requirements more flexible.
Li Xiaojia pointed out that due to lack of accounting transparency, Chinese companies listed in the United States are also facing pressure, which has led to the recent introduction of restrictions on the Nasdaq Stock Exchange. It will make it more difficult for some Chinese companies to list on the exchange.
Li Xiaojia indicated that many of the U.S. listed stocks that intend to list in Hong Kong already have the conditions for listing in Hong Kong, including technology companies. “At present, the atmosphere in the United States has become less friendly, and we have fundamentally reformed many aspects of the listing system to make us more flexible.”
On July 9, 2018, Xiaomi Group was listed on the main board of the Hong Kong Stock Exchange, becoming the first company to be listed on the “equal shares with different rights” structure after the Hong Kong stock listing rules were revised. On September 20 of the same year, Meituan Dianping was officially listed on the Hong Kong Stock Exchange.After that, on November 26, 2019, Alibaba, which had sought to fail to list on the Hong Kong Stock Exchange a few years ago, was listed on the Hong Kong Stock Exchange, becoming the first to be listed on the US stock market and Chinese internet companies listed in Hong Kong stocks.
Recently, many Chinese stock companies listed in the US have revealed their plans to go public in Hong Kong.
According to the Hong Kong Stock Exchange, on June 5, JD.com went public through the Hong Kong Stock Exchange. The information disclosed by it shows thatIt will be used to invest in key technological innovations based on the supply chain to further enhance customer experience and improve operational efficiency.
In addition, on May 29, the Hong Kong Stock Exchange officially disclosed NetEase’s post-listing information. Ding Lei, the founder and CEO of NetEase, also released the first letter to all shareholders in the past 20 years of listing. In the letter, Ding Lei announced to all shareholders that Netease is preparing for a secondary listing in Hong Kong.