SSE said to be gearing up for new emerging industries board
Shanghai Stock Exchange could launch by the end of this year a new strategic emerging industries board that will seek to attract listings of firms involved in sectors getting a policy push from the central government.
The new board will facilitate IPOs of firms in industries that are supported by government policies, including the technology, media and telecommunications (TMT) sectors, according to Wilson Chow, China and Hong Kong assurance leader for TMT at PricewaterhouseCoopers Shenzhen.
Among other initiatives, the board will aim to lure overseas-listed Chinese TMT firms to return to the country for domestic share floats, the Hong Kong Economic Journal cited Chow as saying.
Technology and bio-sciences firms, which usually incur huge expense on research and development, will be provided assistance in fund-raising activities, with the new board offering a favorable regulatory environment and easier rules.
Benson Wong, a PwC audit partner, said the new board could benefit Hong Kong if the local stock market operator, Hong Kong Exchanges and Clearing Ltd. (00388.HK), seeks dual-listing deals of technology companies by relaxing some of its own listing rules.
In other comments, Wong suggested that companies may be better off by listing in their home countries.
He noted that Alibaba Group, for instance, has seen its share price fall by a third since early steep gains following its listing on the New York Stock Exchange last year.
Despite potential high valuations that US listings may bring, it is actually the people in the home country that should be banked upon as they would have better knowledge of the business, he said.
Hong Kong, given its proximity and ties to China, is also an attractive option for Chinese tech firms, Wong added.
-- Contact us at [email protected]
VW/JP/RC
-
Time for government to set up Science and Development Office Kenny Shui and Caroline Ngan
Even though the city has prioritised economic development for decades, the changing needs as a result of the pandemic mean Hong Kong should strengthen its policy on science by establishing a high-leve
-
Mystery behind the buoyant housing market despite pandemic Ben Kwok
A friend who lives in Tseung Kwan O said he received a dozen calls over Easter holidays from property agents. To turn them down, he made up an excuse that his flat would not be available until six
-
HK: Some practical masterpieces of scientific research works Dr. Winnie Tang
The University of Hong Kong (HKU), my alma mater, announced good news recently. It has reaped a total of eleven awards including Gold Medals and Silver Medals at the Special Edition 2021 Inventions
-
Laudatus Neville Sarony
I do not know what the evidence was in the District Court prosecution that resulted in convictions for organising and participating in an unauthorised assembly, hence I shall not venture an opinion
-
How do you solve the math question of vaccine bubble? Ben Kwok
Imagine there is a cha chaan teng with eight tables, two of which are in the clean zone, a new term that will allow eight diners till 2am under the vaccine bubbles. Now six diners came in, three of
Laudatus
World will not boycott Beijing’s Winter Olympics
HK: Some practical masterpieces of scientific research works
On Prince Philip’s passing
10 things global investors need to know about China equities
Biden’s climate opportunity in Latin America
The key to beating COVID-19
Mystery behind the buoyant housing market despite pandemic
Will US stimulus spending lead to higher interest rates?
Productivity after the pandemic
