HKEX eyes confidential filings, lower market cap threshold for start-ups

HKEX would proceed with its listing reform to allow confidential filings and a lower market capitalisation requirement, as part of the exchange operator's plan to increase its international competitiveness. The move would be a result of months-long consultations with market participants that began in March. The confidential filing mechanism would allow candidates to disclose certain details only after their listings are approved by the exchange. The market cap requirements for weighted voting right companies and international listings may also end up lower than originally proposed.