Photo: David Sandoz, Flickr.
The Hong Kong stock exchange is to begin debating whether to launch a new trading board for tech firms with “non-standard” share structures, according to Reuters.
The news agency says the move comes as part of a general discussion of corporate governance in Hong Kong and disappointment that China’s Alibaba chose to float in New York in 2014.
There is concern that new tech companies prefer weighted voting rights, a structure currently not permitted on Hong Kong’s main listing board.
Reuters quotes Charles Li, chief executive of Hong Kong Exchanges, as saying: “We have not been the exchange of choice, the market of choice of new economy and emerging companies. We are now addressing those issues head on.”
