HKEX still looks for acquisitionsBusiness | Reuters and Kevin Xu 10 Oct 2019
Laura Cha Shih May-lung, chairwoman of Hong Kong Exchanges and Clearing (0388), said the stock exchange does not rule out the possibility of mergers and acquisitions of other bourses.
Speaking at a conference in Singapore yesterday, Cha said that while she was disappointed the London Stock Exchange deal didn't go through, it was just one facet of HKEX's three-pronged strategy - building on China links, focusing on technology and on international ambitions.
Investors and analysts expect HKEX to refocus its efforts on expanding its links with mainland Chinese counterparts.
"Charles Li must have known that the LSE was a long shot," said Larry Tabb, research chairman at US-based capital markets advisory firm Tabb Group. "So I actually think the bid was meant to demonstrate his aggressiveness to Beijing and put him in a better spot in relation to Shanghai and other exchanges throughout China."
HKEX declined to comment.
Sixteen biotech companies had listed on the HKEX main board by September, raising a total of HK$53.5 billion since April 2018.