Hong Kong exchange proposes looser IPO rules for tech companies as profit falls

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 66%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Hong Kong -Hong Kong's bourse operator said there were signs of new momentum in the initial public offering market as it posted a 30 per cent drop in third-quarter profit on Wednesday, beating analyst expectations for a steeper fall. Hong Kong Exchanges and Clearing Ltd (HKEX) also said it had launched a two-mon

th consultation to make it easier for tech specialist companies to float in the market, hoping to revive falling listing revenue.

Profit attributable to shareholders slumped to HK$2.26 billion from HK$3.25 billion in the same period last year, beating analysts' estimate of HK$2.22 billion. The bourse's proposed new listing rules would apply to companies in industries including next-generation information technology, advanced hardware, advanced materials, new energy and environmental protection, and new food and agriculture technologies, HKEX said in a statement.

The relaxed regime comes weeks after Washington imposed a sweeping set of export controls aimed at cutting China off from certain semiconductors made anywhere in the world with U.S. equipment.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines