Joint Submission to HKEX's July 2020 Consultation Paper on Paperless Listing
AIIFL Working Paper No. 36, 2020
28 Pages Posted: 22 Oct 2020 Last revised: 4 Dec 2020
Date Written: September 1, 2020
On 24 July 2020, HKEX announced two important initiatives. The first moves toward resolving a shortcoming in the regime for new listing applicants. The second aspires to improve Hong Kong’s environmental practices via a paperless listing regime. While both proposals set a directionally positive tone, there are some devils in the details. The first represents a small step with more to be done to implement recommendations made in a report by the HKICPA in December 2017. The second synchronizes poorly with the law, may not bring about the desired outcome and may have overshot the mark as to what could have been more simply done.
Keywords: HKEX, Corporate Governance, ESG, Environment, Listing Regime, Prospectus, Electronic Listing Regime, HKICPA, MMO, Alibaba
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