Hong Kong’s listing reform 2.0: can it outshine global rivals for innovative firms?

Fang Liu, a partner at global law firm Clifford Chance, counts among his clients many technology companies that are keen to list in Hong Kong, but find the current requirements cumbersome. Clifford Chance has helped more than a dozen innovative companies raise funds under the new listing regime since 2018, when Hong Kong Exchanges and Clearing (HKEX) introduced reforms for pre-revenue biotech firms and companies with weighted voting rights (WVR), where one class of shareholders carries more...