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Shares with different rights are accepted into Hong Kong

via:CnBeta     time:2019/10/21 11:31:22     readed:136

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Earlier, on the evening of October 18, the Shanghai Stock Exchange and the Shenzhen Stock Exchange respectively issued the notice of the Shanghai-Shenzhen Stock Exchange "Measures for the Implementation of Business (2019 Revision)", which clarified the first inclusion conditions for the shares of different voting structure companies in Hong Kong stocks, including: listing more than" six months and 20 trading days in Hong Kong stocks "; reaching a market value of 20 billion yuan; examining the total half-year turnover of no less than 6 billion yuan; and not being criticized and sanctioned by the Hong Kong Stock Exchange for violating the regulations.

The revised measures for the implementation of Business, which have been examined and approved by the Council of the Exchange and approved by the CSRC, will enter into force as of October 28, 2019.

According to the original method, the Shanghai-Hong Kong Stock Connect shares include: the composition of the Hang Seng Composite Large Stock Index, the composition of the Hang Seng Composite Medium Stock Index, and the H-shares of the AH-listed companies.

Shenzhen-Hong Kong Stock Connect shares include: hang Seng Composite large Stock Index components; Hang Seng Composite medium-sized stocks; Hang Seng Composite small stocks Index components, and the average monthly market value of Hong Kong stocks is not less than HK $5 billion in the 12 months before the deadline for regular adjustment and inspection, and the market value of Hong Kong stocks listed on the Stock Exchange for less than 12 months is calculated according to the actual listing time; A H-share listed companies are listed on the Stock Exchange.

In addition, the Shanghai and Shenzhen stock exchanges also amended the notice on Revising the necessary provisions of the risk disclosure statement of Hong Kong stock connect trading. The revised notice requires that securities companies carrying out the business of Hong Kong stock connect shall formulate risk disclosure of Hong Kong stock connect for investors of Hong Kong stock connect, and the risk disclosure shall remind investors to note that some listed companies of Hong Kong stock connect have different voting rights arrangements, and the company may have relatively concentrated control rights, or the voting rights of a specific class of shares are greater than or superior to the general public. The voting rights owned by Tong shares and other situations limit the voting rights of ordinary investors and their influence on the daily operation of the company. Investors should pay attention to the possible risks.

It is estimated that according to the new standard, among the different voting right structure companies listed in Hong Kong stock market,millet Comments from the group and meituan are expected to be included in the Hong Kong stock connect.

According to CITIC Securities, Xiaomi has been listed for more than 15 months, with a current market value of more than 200 billion Hong Kong dollars and an average daily turnover of more than 800 million Hong Kong dollars, meeting the conditions for inclusion in the Hong Kong stock connect. The next regular adjustment of Hong Kong stock connect standard securities will be on November 18, 2019, when Xiaomi is expected to be officially incorporated into Hong Kong stock connect.

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