Little need for HKEx dual class proposal, bankers say

By Lorraine Cushnie, Rashmi Kumar
04 Sep 2014

Just one week before Alibaba is due to open books for its jumbo New York IPO, the Hong Kong Exchange has launched a concept paper on whether it should allow dual class shareholdings. But with very few issuers demanding this structure, bankers reckon that even if it brings in new rules, it is unlikely to change the dynamic of the market.

Tech giant Alibaba’s decision to list in the US — even though it had made public its desire to list in Hong Kong — brought a heap of criticism onto the HKEx for its decision to stick by its one share, one vote policy. The exchange has always ...

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