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Highlights:
• All proposals to be adopted with minor modifications following majority support
• Most new requirements will be provided with transitional arrangements to ease compliance
The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEX, published today conclusions to its consultation on Proposals to Further Expand the Paperless Listing Regime and other Rule Amendments.
The Exchange received 49 non-duplicate responses from a broad range of respondents. All the proposals received support from a majority of respondents. The Exchange will adopt all the proposals outlined in the consultation paper with minor modifications as set out in the Consultation Conclusions.
Katherine Ng
Head of Listing, HKEX
Sustainability sits at the core of HKEX’s strategic development, and we are committed to promoting and progressing our market infrastructure with sustainable best practices. We welcome the positive feedback on our consultation, and are pleased to be moving forward with the next phase of our paperless listing reforms. Under the new Listing Rule requirements, issuers will be able to flexibly adopt digital communication and payment technologies, enhancing operational and regulatory efficiency, whilst further reducing the impact of listing-related processes on the environment.
The proposals adopted and the implementation timeline are as follows:
“The reforms and implementation timeline are designed to provide issuers with flexibility, so they can comply in a manner, and at a time, that best suit their individual circumstances. We believe this approach enables the market, as a whole, to enjoy the benefits of the reforms, while limiting the burden on issuers and their agents, such as share registrars,” Ms Ng added.
The Consultation Conclusions and copies of the respondents’ submissions are available to view on the HKEX website.