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[HONG KONG] The Hong Kong securities regulator and the stock exchange said that they have jointly asked investment banks to ensure that they maintain the quality and standard of initial public offering (IPO) applications, in a rare move that comes amid a surge in listings in the financial hub.
Hong Kong dominated Asian equity capital market deals with US$75 billion raised so far this year, more than triple what was raised last year and the highest since 2021, according to LSEG data.
“HKEX is committed to ensuring the timely and robust review of new listing applications,” a spokesperson for Hong Kong Exchanges and Clearing (HKEX), the city’s bourse operator, said.
The exchange continues to proactively engage with issuers, sponsors and professional advisers to “ensure the submission of comprehensive and high-quality listing materials”, the spokesperson added.
“The SFC (Securities and Futures Commission) will continue to work closely with HKEX to uphold the quality and standards of new listing applications in Hong Kong,” a spokesperson for SFC said. REUTERS
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