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Companies

Hong Kong exchange amends listing rules to lure tech giants

Market operator clears way to win over Alibaba, Xiaomi and other major companies

The Hong Kong stock exchange's new rules follow years of debate over the city's listing requirements, which have been deemed "outdated" by critics.

HONG KONG -- The Hong Kong stock exchange unveiled changes to its new listings system on Tuesday, in a move to better position itself to lure large technology and biotech companies in the battle with the U.S. and mainland China for high-profile initial public offerings.

Hong Kong Exchanges & Clearing, the market operator, will begin accepting applications under the new plan on April 30, and the first batch of companies are expected to be listed as early as June.

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