On March 24, 2023, the Stock Exchange of Hong Kong Limited (SEHK) published the consultation conclusions after considering market feedback on its proposal to allow the listing of specialist technology companies on the Main Board of SEHK. The listing regime would be implemented through introducing the new Chapter 18C to the Hong Kong Listing Rules. The regime targets companies primarily engaged in the research and development of, and the commercialization and/or sales of, products and services which apply science and technology to designated specialist technology industries, namely (i) next-generation information technology, (ii) advanced hardware and software, (iii) advanced materials, (iv) new energy and environmental protection, and (v) new food and agriculture technologies. Innovative and new economy companies with high growth potential and market valuations satisfying the requirements set out in Chapter 18C and relevant guidance become eligible for listing in Hong Kong, notwithstanding their inability to meet the existing profit, revenue or cash flow requirements under the Hong Kong Listing Rules. The new rules will take effect from March 31, 2023.
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