HK puts stop to heavily discounted equity raises

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By John Loh
22 Sep 2017

The Hong Kong Stock Exchange (HKEX) plans to bar issuers from carrying out heavily dilutive equity raisings, as it seeks feedback on a raft of proposals aimed at tightening governance of listed companies.

There are two market consultations, which are meant to curb potential abuses related to large scale and deeply discounted capital raisings, as well as to facilitate efficient and orderly delistings of poor quality issuers, according to a statement on September 22.

The move stems from recent concerns that ...

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