The Stock Exchange adopts most of its proposals to optimise IPO price discovery and open market requirements, with certain modifications based on market feedback.
On 1 August 2025, The Stock Exchange of Hong Kong Limited (the Stock Exchange) published its Consultation Conclusions following its December 2024 Consultation Paper on proposals to optimise IPO price discovery and open market requirements. The Stock Exchange will implement the proposals, with modifications in response to market feedback, and has launched a further consultation on ongoing public float proposals. The amendment to the Rules Governing the Listing of Securities on the Stock Exchange (Listing Rules) became effective on 4 August 2025 and will apply to all issuers and all new applicants with listing documents published on or after that date, with transitional arrangements for ongoing public float requirements pending further consultation.
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