Hong Kong will have to court listings from potentially risky Chinese private enterprises as the wave of initial public offerings by state-owned companies comes to an end, according to the new head of the territory’s market regulator.
“A greater proportion of listings will consist of privately held companies from mainland China and further afield. This phase of HK’s market’s development is very promising but also poses different risks and regulatory challenges,” Ashley Alder, who took over as head of the Securities & Futures Commission on October 1, told the Financial Times.
“We will continue to focus on the vital gatekeeping role of IPO sponsors . . . and be rigorous about high disclosure standards.”
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