HK brokerages canvass against changes to rules


HONG KONG: Hong Kong brokerages have called on candidates for the city’s top job to ditch a planned overhaul of how initial public offerings (IPOs) are screened, trying to kill efforts that have been backed by international investors including BlackRock Inc.

The lobbying targets a proposal by the Securities and Futures Commission (SFC) and Hong Kong Exchanges & Clearing Ltd (HKEX) to restructure the bodies that review listings applications. Brokers have told the three candidates that defeating the plan is a priority, saying it would hurt business and hand more power to the regulator, according to Vincent Lee, chairman of brokerage Tung Tai Group and one of 1,194 voters who will pick Hong Kong’s next leader on Sunday.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Hong Kong , stockbrokers , politics , IPO , blackrock ,

   

Next In Business News

MIDF boosts security after cyber Incident
Gas Malaysia distribution adjusts tariff down
RHB IB expects 4.2% y-o-y for 1Q GDP print
Miti closely monitoring situation in Middle East for possible escalation in conflict
Ringgit continues to appreciate vs USD at close
Fajarbaru wins RM13.33mil contract from Malaysia Airports
Fitters Diversified bags RM26.1mil subcontract from IJM Construction
CIMB Thai 1Q net profit dips 24.6% to 626.1 million baht
Maxis ready to build another 5G network, fully supports govt 5G delivery model
Iconic Worldwide raises RM95.6mil in oversubscribed rights issue

Others Also Read