Hong Kong Exchanges and Clearing (0388) has published a consultation paper on proposals to refine the post-listing requirements governing notifiable transactions, connected transactions and spin-off transactions to enhance the competitiveness of the listing framework.
The bourse operator is seeking market feedback on suggestions that include scrapping the exchange’s prior approval requirement for spin-offs and shortening the moratorium period for spin-offs to one year after listing from three years.
It also plans to increase the threshold for major transactions and remove transaction classifications of very significant disposal and very significant acquisition.
The proposals seek to provide listed issuers with greater flexibility to undertake corporate transactions, while maintaining appropriate shareholder safeguards through enhanced disclosure requirements and effective board accountability, HKEX said.
