Business
08:32, 10-Dec-2018
Hong Kong, mainland bourses reach deal on dual-class shares
Updated
07:23, 13-Dec-2018
["china"]
Share
Copied
The Hong Kong stock exchange and its counterparts in Shanghai and Shenzhen jointly announced on Sunday that they had reached a consensus on trading by mainland investors in Hong Kong-listed companies with dual voting rights.
The agreement, which could potentially benefit companies such as smartphone maker Xiaomi Corp., relates to investments in the stock connect scheme which links exchanges on the mainland with the Hong Kong bourse.
“The three exchanges will promptly work on formulating relevant rules and will announce them to the market after completing necessary procedures,” the Hong Kong stock exchange said in a statement.
The new rules were expected to be implemented in the middle of next year, it added.
The stock connect scheme allows mainland investors their only direct means of trading offshore stocks, and international investors access to China's mainland companies.
Source(s): Reuters