Path opened for Malaysian firms to pursue secondary share listings in Hong Kong

Malaysia’s Capital A Berhad, which runs travel app AirAsia Move and food brand Santan, is eyeing a dual listing in the city, government says Hong Kong is reaping rewards from a charm offensive with Malaysia as it works to enhance its attractiveness to global fundraising activities, with deals reached on Thursday during a visit to the Southeast Asian country by the city’s financial services secretary. Bursa Malaysia will become the 21st stock exchange recognised by the city’s bourse operator Hong Kong Exchanges and Clearing (HKEX), clearing the way for Malaysia-listed companies to pursue secondary listings in Hong Kong, according to separate statements from the government and HKEX. Malaysia’s bourse will be the fourth recognised in Asia, after the stock exchanges of Indonesia, Singapore and Thailand. “HKEX has streamlined the listing requirements for overseas issuers, introduced a set of core shareholder protection standards for all issuers and issued additional guidance to assist overseas companies seeking to list in Hong Kong,” said Secretary for Financial Services and the Treasury Christopher Hui Ching-yu.

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