Securities regulators in Hong Kong and Malaysia on Wednesday unveiled simplified procedures allowing companies to submit a single application to list on both exchanges.
The Securities and Futures Commission of Hong Kong (SFC) and the Securities Commission Malaysia (SC) announced separately a single-submission arrangement to streamline simultaneous listings, bringing into operation a dual IPO listing framework outlined in a memorandum of understanding signed by the two regulators in July.
Under the arrangement, companies seeking a primary listing on Hong Kong‘s or Malaysia‘s main board stock exchange, along with a simultaneous secondary listing on the other market, need to submit “only a single listing application submission with a single listing document”.
Both regulators have established dedicated dual-listing review teams and will coordinate review processes, together with the main board of the Hong Kong stock exchange, to align timelines, minimise duplication and streamline queries to applicants.
The initiative will enhance access to cross-border fundraising opportunities and broaden investor reach and further strengthen the attractiveness of both markets as investment destinations, said SC chairman Mohammad Faiz Azmi.
“This timely follow-up to our landmark MoU crystallises our shared vision to deepen regional capital market connectivity for mutual prosperity,” said Ms Julia Leung, Chief Executive Officer of the SFC.
The framework comes nearly a year after Singapore announced plans to make SGX-Nasdaq dual listings easier.
Reuters
