Tech enterprises channel met with enthusiasm

Market response to the dedicated "technology enterprises channel" launched earlier this month has been enthusiastic, with the bourse receiving a large number of inquiries, says Acting Secretary for Financial Services and the Treasury Joseph Chan Ho-lim.

The channel was launched to facilitate the listing application of specialist technology and biotech companies.

In a written reply to a lawmaker’s question, Chan said the channel can address key matters for these companies at the initial stage of listing preparation, compared to general applications.

Depending on the number of applications, Hong Kong Exchanges and Clearing (0388) and the Securities and Futures Commission will flexibly deploy their manpower to meet the demand for vetting applications and other services, ensuring that other applications are not affected, Chan said.

He noted that the two regulators are taking forward enhancements to the listing regime, including reviewing specific requirements for primary listings, secondary listings, and dual primary listings as well as post-listing regulatory mechanisms, improving the overall vetting regulation for enterprises seeking to list in Hong Kong, with a view to enhancing the vitality, competitiveness and resilience of Hong Kong's listing platform.

The relevant measures will be announced with market consultation to be conducted once they are ready, he added.

STAFF REPORTER