HKEX and the Asset Management Association of China (AMAC) co-hosted a seminar in Shanghai on 4 August, attracting more than 100 representatives from private equity funds to learn more about the latest developments in the Hong Kong IPO and capital markets, as well as the H-Share Full Circulation Programme.
HKEX Managing Director and Co-Head of Sales & Marketing Christina Bao delivered an opening speech that highlighted Hong Kong’s unique role as a leading fundraising hub for Chinese companies. She detailed the key benefits of listing in Hong Kong, including a diverse base of investors, transparent listing rules and a structured listing timetable.
The introduction of the new listing regime in 2018 has helped transform and reshape Hong Kong’s capital markets. Hong Kong is now Asia’s largest, and the world’s second largest, biotech fundraising hub. As at 31 July 2021, HKEX has welcomed 73 new healthcare and biotech listings over the past three years, raising HK$227 billion. HKEX has also welcomed 14 “homecoming” secondary listings since 2018.
The H-share full circulation programme came into effect in November 2019. The programme brings several key benefits to both the H share listed companies and Hong Kong’s capital market. It encourages Chinese issuers to list in Hong Kong through the H-share structure given its advantages in saving restructuring costs while maintaining the flexibility to access both international and Chinese A-share market. It also helps attract deeper global investment interest in H shares with new equity-related products offerings and development.
AMAC Vice Chairwoman Gao Tian-hong said in her opening speech that the co-operation between the Mainland and Hong Kong’s capital markets are on the rise, as shown by an increasing number of Chinese companies listing in Hong Kong and the growing number of Chinese investors trading in the Hong Kong market via Stock Connect. She added that AMAC will continue to work closely with HKEX to further support private equity funds’ investments in Hong Kong.
HKEX Global Issuer Services’ Senior Vice President Winnie Han introduced Hong Kong’s listing rules and the latest developments of the Hong Kong IPO markets in her keynote speech, while representatives from accounting firms, securities companies and law firms also shared the common practices and their experiences of listing in Hong Kong, as well as the updates on the Hong Kong's Limited Partnership Fund regime.
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