HKSE proposes to expand listing eligibility for biotechs

Hong Kong Exchanges and Clearing Ltd. (HKEX) said Dec. 15 that it will amend its listing rules to allow pre-revenue biotechs and companies from emerging and innovative sectors with weighted voting rights (WVR) structures to list on the Hong Kong Stock Exchange’s main board.

A new chapter to the main board listing rules would grant eligibility to biotechs with a minimum expected market cap of HK$1.5 billion ($192 million), while a second chapter would extend eligibility to companies with WVR structures that have a minimum expected market cap of HK$10 billion ($1.3 billion). WVR-structured companies with a market cap of below HK$40 billion ($5.1 billion) would also need to show HK$1 billion ($128 million) in revenues for its previous fiscal year...