Hong Kong plans to expand the scope of IPO confidentiality applications? HKEX responds: Will timely announce relevant progress.

Recently, there have been rumors that Hong Kong is considering expanding the scope of confidentiality applications for initial public offerings (IPOs), allowing a wider range of companies to submit IPO applications in this form. A HKEX spokesperson told the media that the Hong Kong Stock Exchange will continue to work closely with the Securities and Futures Commission of Hong Kong to enhance the competitiveness of the exchange in various aspects and will announce relevant developments to the market in due course. Additionally, the Securities and Futures Commission of Hong Kong also told the media that they will continue to work closely with HKEX to explore further measures to enhance the competitiveness of the Hong Kong listing market, ensuring that Hong Kong remains the preferred listing destination for quality enterprises. The spokesperson for HKEX also stated that the Hong Kong Stock Exchange is committed to optimizing market infrastructure and listing mechanisms to ensure they keep pace with the times. In the past few years, they have introduced several important reforms, including the introduction in 2018 of rules allowing companies with dual-class share structures to list and allowing biotechnology companies without revenue to list, as well as the introduction in 2023 of a special listing mechanism for technology companies.