Last Friday (1 August 2025), the Hong Kong Stock Exchange (the “Exchange”) concluded its December 2024 consultation on the “Proposals to Optimise IPO Price Discovery and Open Market Requirements”. The Exchange has implemented the new regime on public float and open market requirements for initial public offerings (IPOs), effective from 4 August 2025. For a summary of the key changes under that new regime, please refer to our separate client bulletin.
The Exchange is now running a further two-month consultation inviting market feedback on proposed revisions to public float requirements for listed issuers to dovetail with the new IPO public float regime. This bulletin focusses on these proposed changes and their potential impact for Hong Kong listed issuers and market participants.
The deadline for submitting comments to this further consultation is 1 October 2025.
If you would like to discuss any of the proposals in detail, please get in touch with your usual Linklaters contact.
For further information, please contact:
Christine Xu, Partner, Linklaters
christine.xu@linklaters.com
