恆指公司:基於審慎原則 初期W股設5%權重上限
恆指公司公布諮詢結果,有條件將同股不同權(W股)或第二上市公司納入恆指及國指選股範疇,恆指公司董事兼研究與分析主管黃偉雄指,有逾九成回覆人士支持納入同股不同權公司至恆指及國指,而聯交所及監管機構已有足夠措施保障投資者,故認為合適加入,但亦有投資者認為相關股份管理架構與傳統機構不同,對於是否設限市場聲音不太一致,故最終決定在起始階段基於審慎原則,個別同股不同權成份股在恆指及國指中的權重設有5%的比重上限。
黃偉雄指,這類型股份對香港市場相對新,故較合適做法是在起初階段採審慎原則,權重上限由最多10%下調至5%。未來要視乎市場發展決定上調空間或時間等。
至於8月份恆指季檢會否將最少一隻同股不同權或第二上市公司納入指數,他指出每次檢討都是獨立處理,現時較難預計8月份的情況。他續指恆指納入本身有既定準則,例如是市值、成交及上市時間等,對同股不同權公司及第二上市公司亦適用,要達到要求才符合選股範圍。
黃偉雄稱恆指的快速納入準則亦將適用於同股不同權及第二上市公司,而市值計算僅計香港註冊部分,會參考不同的數據來源決定,以阿里(09988.HK)為例,截至3月底其香港註冊部分大約佔總股本約22-23%左右,但就未有回應三家市場認為有機會染藍的公司阿里、小米(01810.HK)及美團(03690.HK)是否符快速納入標準。
他又認為,交易所引入相關企業來港上市亦代表了新的一頁,這些公司通常都是一些新經濟公司,考慮到諮詢結果等,認為要跟著趨勢行,同時要配合香港金融市場發展,認為是今次轉變的根基及未來方向。
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