China to let more SMEs list in Hong Kong
China will allow more small- and medium-sized enterprises to list in Hong Kong in what could be a game changer for private equity firms seeking overseas IPO exits for portfolio companies. The move, announced at the Asian Financial Forum in Hong Kong by Yao Gang, vice chairman of the China Securities Regulatory Commission, is part of efforts to ensure Hong Kong benefits from mainland capital markets reforms.
Chinese listings in Hong Kong have until now been dominated by large state-owned enterprises, but Beijing is under pressure to do more for SMEs, the Financial Times reported. The private sector generates...
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