21 February 2019

HKEx chief urges rethink of partnership structure

Hong Kong Exchanges and Clearing Ltd. (HKEx) (00388.HK) should reconsider its rules on partnership structure and not close the door to innovative, trend-setting companies, chief executive Charles Li said in a blog post Thursday. The remarks came after the exchange rejected a proposal by Alibaba for a partnership structure that would give founder Jack Ma continued control of the company after listing. The proposal calls for different degrees of voting power to shareholders with different classes of shares. HKEx should be innovative and proactive in dealing with such cases, Li said. Meanwhile, Alibaba chief executive Lu Zhaoxi said both sides need more time to decide, news portal reported Thursday. Bob Greifeld, head of NASDAQ Stock Exchange, has said it would be an honor to have Alibaba on board, the report said.

– Contact HKEJ at [email protected]




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