Deals

Hong Kong Targets Next Alibaba in Revamp of IPO Rules

Bourse announces moves to lure likes of tech giants for IPOs
Profitability requirement also ditched for biotech firms

Hong Kong Stock Exchange
Photographer: Anthony Kwan/Bloomberg

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By Benjamin Robertson

December 15, 2017 at 4:21 AM EST

Corrected

December 18, 2017 at 2:46 AM EST

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Hong Kong’s stock exchange proposed to let “innovative” companies list in the Chinese enclave with dual-class share structures to avoid losing out on more initial public offerings by technology giants like Alibaba Group Holding Ltd.

Allowing shares with extra voting power is part of a package of measures released Friday that may be the biggest change to the exchange’s listing rules since 1993, when it allowed large Chinese enterprises to go public there.

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