HKEX reforms target advanced biotech companies

The Hong Kong Exchanges and Clearing (HKEX) has vowed to continue to implement more reforms and look for ways to cater to the funding needs of large-scale advanced technology companies, which are at an early stage of product commercialisation. The bourse is targeting the new economy sector, particularly biotech companies, as market participants push for a loosening of listing rules amid a tougher funding environment. HKEX chief executive Nicolas Aguzin said they are also considering the creation of a bespoke chapter for them, and they also want to continue expanding the type of companies that are listed in the markets. The upcoming reforms are expected to be the biggest since 2018, when the HKEX allowed technology firms with multiple classes of voting rights and pre-revenue biotechnology firms to list.