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Trending News:Oil trading playbook: key levels to watch todaySmart Glasses, AI Wardrobes and Cute Bots: Stroll Android Avenue at MWC 2026As Iran retaliates, the US closes embassies in Saudi Arabia and KuwaitIndia, Europe feeling fuel shortage as Gulf gas supplies disrupted during war Oil & Gas NewsMAIA Biotechnology Slides After IPO to Raise $30MFaf du Plessis and Anil Kumble announce South Africa vs New Zealand semi-final resultsHow to obtain, unit overview, etc.Factbox-Airlines canceled flights after the US and Israel attacked IranRFK Jr. told Joe Rogan Is About to Release 14 Banned PeptidesLiz Peake: As Iran celebrates Trump’s attacks, war critics are on the wrong side of history and shock the American leftiPhone 17e vs 16e: What Apple changed and what stayed the sameLord Allen: British Horseracing Authority chairman resigns after six months in office Racing NewsEarnings call transcript: Reach PLC sees strong performance in H2 2025Why Missile Alerts and War Updates Induce DoomscrollingFlight details show Al Nasser’s captain’s jet left Riyadh amid Iran’s attack on US embassySwiss sneaker maker’s guidance disappointingIsraeli forces are advancing in Lebanon and occupying the land, as Hezbollah’s fight escalatesAI Increases Win Rates as Companies Automate Critical Workflows at TMT ConferenceGautam Gambhir unites India team around Linku Singh after personal tragedyFormer Aston Villa chairman urges NSWE to seal ‘no-brainer’ deal for Marcus RashfordWant to live forever? Meta has patented an AI model that will keep your profile active after your deathMyFitnessPal acquires Cal AI, the viral calorie app created by teenagersSix U.S. soldiers killed in Iran attack on Kuwait baseKuwait accidentally shot down a US fighter jet, the US military claimsDave projects revenue of $690M to $710M by 2026 as it expands AI-powered credit platformWatch: Ms. Dhoni gestures and performs funny dance during CSK practice ahead of IPL 2026Fans believe CM Punk may have quietly teased the former AEW Champion’s WWE arrival during a heated moment with Roman Reigns on RAWWill UK energy strength complicate BoE rate cut plans?Apple has updated the iPad Air with the M4 chipHezbollah fires drones at Israel, attacks Beirut in Israel-Iran conflictWhy Trump still needs to sell the Iran war to American votersGrant Thornton UK appoints Frederik Vinten as Commercial DirectorT20 World Cup: England captain Harry Brooke on India semi-finals, Jos Buttler, Will Jacks and composure under pressure | Cricket NewsClient ChallengeI Saw Xiaomi’s Wild Hypercar Up Close And It’s Pure Video Game BlissCopa Libertadores-winning coach Philippe Luiz was sacked hours after Flamengo’s 8-0 winJohnson defends US, Israeli strikes on Iran after classified briefingAs Trump overthrows the world order, can Germany learn the language of hard power?Fresnillo plc Non-GAAP EPS of $2.06, Revenue of $4.56M Exceeds $200M; provides outlook to 2026 and long-term outlookMohammed Siraj, Mohammed Shami unfollow Yuzvendra Chahal due to Iran-related posts? fact checkThe £12m-rated Sunderland pair are shaping up to be the club’s best Premier League duo since Defoe and BoriniBoards aren’t ready for the age of AI: What happens when your CEO gets deepfaked?Two Vince Vaughns Star in a New Time-Travel Gangster Action ComedyNew Iranian threat to Gulf shipping sends oil and gas prices higherIsrael says it will reopen the Gaza aid crossing to allow a ‘gradual’ entry of humanitarian aidHudbay Minerals agrees to acquire Arizona Sonoran for $1.48 billionWhat happened between Rhea Ripley and Jade Cargill in WWE? Causes of fever in real lifeAccessPay integrates PayPoint’s fraud prevention into the payment platformHackers and internet outages hit Iran amid US air strikesIran holds mass funeral for girls, staff killed in US-Israeli school attack Israel-Iran conflict newsQuanterix targets revenue of $169-174 million by 2026 with focus on diagnostics and cost synergiesIndia vs England match details leaked! Is Abhishek Sharma bound to fail?Client ChallengeApple introduced the $599 iPhone 17e with MagSafe and double the storage‘Deadly Catch’ sailor dies at 25 while fishing in Alaskan watersIran steps up retaliation as US says war could last weeksEU can dramatically reduce local battery prices with Made in Europe plan, T&E reportICC announces 2026 T20 World Cup semi-final match officialsTottenham Hotspur linked up with Niko Kovac, Borussia Dortmund respondFTSE 100 today: Stocks fall as war tensions weigh in, strong momentum; The UK budget is targetedI Danced With Honor’s Robot Phone And It Complimented My ‘Shiny’ HairVideo: Top Democrats say Iran poses no imminent threat to US | Donald TrumpWho was Iran’s Supreme Leader and what is expected to happen next?Blackstone boosts payouts to investors in $82 million private credit fundTony Bellew on ‘Dangerous’ Wadley vs. Dubois: ‘He’s gonna prove he’s better’Takeru: “It’s been a wild ride”JPMorgan CEO Jamie Dimon reveals the career goal he adopted when he was a 28-year-old assistantRace to Build World’s First Commercial Fusion Plant Heats UpMusk claims new Grok 4.20 is the only ‘non-wake’ AI chatbot currently availableThe global economy faces the possibility of another deep shockWall St futures fell as conflict in the Middle East fueled inflation worriesAnalysts see $100 oil on Strait of Hormuz disruptionSialkot Stallionz killed ahead of PSL 2026, Multan Sultans return amid massive chaosApple baked AI smarts into its new $599 iPhone 17eWhich countries will be hardest hitIsrael’s defense minister says he has ordered troops to take up new positions in LebanonAsian founders increase AI spending by 20%: Singapore fintech AspireParamount’s debt was reduced to junk status after the Warner Bros. dealPCB to punish Pakistan players for poor performance in T20 World Cup 2026 – ReportTwo years after leaving Rangers, £22m star now even better than CermitiSamsung Wallet can now hold your house keysReal Madrid lost to Getafe in La Liga, trailing Barcelona by 4 points Football NewsWhy a war with Iran is expected to increase gas pricesBeiersdorf flags softer 2026 outlook on cost and FX pressures90% of our oil is imported: Vedanta chairman warns India vulnerable to West Asian shockPhoenix Suns vs. Sacramento Kings Preview: Tonight’s starting lineup, betting tips and game predictions (March 3)Study Finds Phishing Scams Are Evolving, Accelerated by AIUFC CEO Dana White refutes his ‘blatantly political’ viewsUS attacks on Iran are testing the fragile truce with ChinaClient ChallengeBlackRock increases risk in its target date fundsSuryakumar Yadav & Co. defy BCCI order, drop Indian team during 2026 T20 World CupNetball news, results and fixtures‘Scream 7’ How It Has More Social Media Drama Left In ItUK budget update, spring statement, what to expectLive: Israeli troops are ‘operating’ in southern Lebanon, army saysGoldman Sachs vice chair on hidden leadership trap: ‘soon the bosses aren’t watching’Nuvation Bio Outlines Growth Strategy for Topline IBTROZI with Median DOR of 50 Months Amid Expanding Global PartnershipsRegis LeBris praises Dan Ballard and Sunderland’s decision to award new contractApple is speeding up the iPad Air with the M4 upgrade, starting at $599
The latest listing reforms proposed by Hong Kong’s stock market operator would help the city attract more initial public offerings (IPOs) and improve its chances of regaining bragging rights as the world’s top venue for new IPOs. ‘actions, according to the players in the sector.
Hong Kong Exchanges and Clearing (HKEX) is seeking public comments until March 19 on its plan to substantially reduce the public float requirement and increase the proportion of new shares for subscription by institutional investors.
“Hong Kong’s public float requirement is historically more restrictive compared to other global exchanges such as the US,” said John Lee Chen-kwok, vice president and co-head of Asia coverage at investment bank UBS in Hong Kong . “The proposed reform to reduce the public float would allow listing candidates more flexibility to decide on their share offers and thus improve Hong Kong’s competitiveness as a listing venue.”
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HKEX is doing its best to attract new listings. According to the London Stock Exchange Group, IPO proceeds in Hong Kong rose 87 percent year-on-year to US$11 billion by 2024. This lifted the city to fifth place in the global league table of IPO in December, from June 13 and the eighth in 2023. Hong Kong was the world’s most important place seven times between 2009 and 2019.
Under current rules, IPOs must offer, or float, at least 25 percent of their total issued shares to the public at a market value of at least HK$125 million (US$16 million ). Large players can apply for an exemption to reduce the threshold to 15 percent.
The requirement, established in 1989, aims to ensure that there are enough shares available for trading.
Singapore’s public fleet ranges from 12% to 25%, Australia’s is set at 20% and London’s is 10%. US stock exchanges have minimum dollar value requirements: $40 million for the New York Stock Exchange and $45 million for the Nasdaq, according to UBS.
Under the HKEX proposal, large companies listed on the mainland would have to float at least HK$3 billion in shares in Hong Kong, or 10% of their outstanding capital. The public fleet for smaller companies would be reduced by 5 to 25 percent, depending on their market value.
John Lee Chen-kwok, UBS vice chairman and co-head of Asia, pictured at the UBS offices at Two IFC in Central on June 24, 2024. Photo: Jonathan Wong alt=John Lee Chen-kwok, vice chairman of UBS and co-head of Asia, pictured at the UBS offices at Two IFC in Central on June 24, 2024. Photo: Jonathan Wong>
“This rule change is particularly important to attract more large mainland companies to list in Hong Kong, as they have already listed in Shanghai or Shenzhen,” Lee said. “The rule change would dismiss their concerns and attract more big mainland players to seek listings in Hong Kong.”
HKEX’s proposed changes to share allocation are aimed at making more shares available to institutional investors. The retail allotment limit under the clawback mechanism of a popular IPO would be reduced to 20% from 50%, making more shares available to institutional investors.
“The share allocation rule changes are also important as they can ensure that institutional investors get more allocations in an IPO as they are the ones who determine the price of the offers,” said Lee. “This will encourage more international institutional investors to invest in the Hong Kong market.”
“The reform still allows retail investors to have a decent share of the allocation. The change balances retail and institutional participation to drive Hong Kong’s development as an international financial centre.”
Local brokers, however, worry the change would put IPOs out of reach for retail investors in the city.
“All stock markets will be active only if there are big and small investors,” said Legislative Council member Robert Lee Wai-wang, who is also the chief executive of financial services firm Grand Capital Holdings. “Reducing the allocation limit for retail investors may make it more difficult for small brokers and retail investors to subscribe to popular IPOs.”
However, the reform is necessary as the participation of retail investors has been declining over the past two decades, said King Au King-lun, chief executive of the Financial Services Development Council and an asset management industry veteran. .
Retail investor trading accounted for 53 percent of the stock market in 1998 when the clawback system was introduced, but only 12 percent in 2023, according to exchange data.
“Hong Kong has evolved from a local market to a leading international financial center,” Au said. “IPO rules must be updated to reflect market dynamics and attract more global institutional investors to invest in our stock market.”
The proposed change makes “the right move” because institutional investors have the resources to conduct in-depth analytical research to set the final offering price for an IPO, he said.
“It is also a good initiative for listed companies, because institutional investors are long-term shareholders, while retail investors are usually short-term traders,” Au added.
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