Tough new listing rules
Article Abstract:
The Hong Kong Stock Exchange has issued a consultation paper on the proposed of second board market. Several requirement for the second board market include 1) Listing company must show two years of active business. 2) The company must maintain a minimum public float of HK$30 mn or at least 30% of market capitalisation, whichever is higher. 3) Management shareholders need to deposit their shares with an agreed depository. 4) Financial shareholders will not be allowed to dispose their shares in the first year of trading. 5) The company will be required to make more details and frequent disclosure. 6) Sponsors for the listing company must apply to the Exchange. *
Comment:
Hong K: Hong Kong Stock Exchange issues requirements on listing of companies on proposed second board market
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Futures market gets tought with investors
Article Abstract:
The Hong Kong Futures Exchange launched new measures to increase the cost of speculation in order to stabilise Hong Kong's stock and futures market. This move came after the Government battled with speculators on stock market, driving up Friday's stock turnover to record high of HK$79 bn in a single day. The new measures include 1) The exchange's members which holds more than 10,000 contracts are subject to special margin rate of 125%. 2) Member which holds 250 contracts must report to the Exchange. 3) Members must disclose their name when reporting. *
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Hong K: Futures Exchange launches new measures to increase cost of speculation to stabilize stock and futures market
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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hkfe faces tough action
Article Abstract:
Hong Kong Futures Exchange (HKFE) will have to follow the government measures about reducing the speculative activities. Otherwise, the government would launch legislation. HKFE has to disclose the market players who have large open interest position on trading. The Hong Kong Securities Clearing has to follow T+2 rule on delivery of shares. Acting Secretary for Financial Services said cross- market supervision committee should be launched in 2 weeks as to regulate the cross-market manipulation activities. *
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Will have to follow government measures about reducing the speculative activities
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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