Hong Kong’s listing reform 2.0: can it outshine global rivals for innovative firms?
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 voting rights than others. “The current market cap requirement…