HKEX 0388 is the Hong Kong Exchanges and Clearing code. In an effort to let investors purchase additional shares in an initial public offering (IPO), HK said on Tuesday that its unit has established an exemption to its “double dipping” requirements.
The term “double dipping” describes the subscription for or acquisition of extra securities by an initial public offering’s cornerstone investor or current shareholder.
If an initial public offering (IPO) satisfies specific requirements, including having a total value of at least HK$1 billion ($128.3 million), the Hong Kong stock exchange will permit double dipping, according to HKEX.
“We believe this new arrangement will be beneficial to the book building and share allocation process and is designed to maintain the optimum balance between market facilitation and investor protection,” said Katherine Ng, HKEX head of listing.
The bourse operator further stated that the amended regulation will go into force right now.
$77949 Hong Kong dollars equals $1.
- Published By Team Hongkong Journalist
