The Stock Exchange of Hong Kong today released its
highly-anticipated concept paper on weighted voting
Hong Kong’s listing rules have adhered
to a so-called one share, one vote concept since 1989. Some
fear that this principle has caused the city state to lose
business – especially from Chinese internet companies
that have often opted to list in the US instead.
Debates on allowing weighted voting rights have
reemerged sporadically over the last 25 years, but reached new
heights following Chinese internet conglomerate
Alibaba’s decision to list in New York instead of
It’s unclear what the introduction of weighted
voting rights would mean for investor protection.
"It’s really in that context that this debate
should take place," said David Graham, chief regulatory officer
and head of...