Date
23 July 2018

SFC may open debate on partnership structures, paper says

The Securities & Futures Commission (SFC) of Hong Kong may consider conducting a public consultation on the “partnership shareholding structure” proposed by Alibaba Group, Ming Pao Daily News reported Friday, citing SFC chairman Carlson Tong. Tong said the SFC is a neutral body and will base the consultation on the need to protect investors’ interests. Alibaba’s proposed structure would give different degrees of voting power to shareholders with different classes of shares, an idea that many saw as running counter to the commission’s principle that all shareholders should enjoy equal rights.

– Contact HKEJ at [email protected]

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