港交所(00388.HK)就优化海外发行人上市制度改革谘询市场意见
港交所(00388.HK)全资附属公司联交所刊发谘询文件，建议优化和简化海外发行人来港上市的制度。
联交所就以下范畴谘询市场意见：简化海外发行人的规定，并确保股东保障水平维持严格；扩阔第二上市制度，欢迎在海外上市而经营传统行业的大中华公司来港上市；允许符合条件的发行人在保留既有不同投票权架构及可变利益实体架构下可作双重主要上市。
港交所上市主管陈翊庭说：「我们将继续推进港交所的战略规划，致力发展香港的资本市场，吸引区内以至全球大型企业来港作主要上市或第二上市，为其增长融资。」
她表示：「港交所在2018年进行的上市改革非常成功，令香港资本市场注入活力和更多元的选择。我们相信，这次提出简化相关规定及优化上市制度的建议，将吸引更多希望从香港的高流动性金融市场受益的国际与中国内地公司，同时确保维持香港市场的质素和高水平的股东保障制度。」
根据建议，没有采用不同投票权架构的大中华发行人可申请在联交所作第二上市的条件将修改为：毋须证明其属「创新产业公司」——采用不同投票权的发行人才须证明；及上市时最低市值将低於现行规定(但仍高於申请作主要上市的要求)。
若联交所认为申请人是试图规避适用於主要上市的《上市规则》规定，有权判定有关申请人为不适合在香港上市(例如应用《上市规则》有关评估一项或一连串交易可会构成申请人反收购的测试)。
拟在联交所作双重主要上市的「获豁免的大中华发行人」及「非大中华发行人」，将可保留既有的不同投票权及可变利益实体架构，毋须为了完全符合联交所的《上市规则》及指引而改变该等架构。
这些发行人需在合资格交易所有至少两个完整会计年度的良好监管合规纪录，并符合适用於采用不同投票权的申请人的较高最低市值要求。
有关发行人须继续遵守其主要上市的海外司法权区的法律及规定之外，亦须符合香港所有其他适用於主要上市的初始及持续规定(例如《上市规则》有关须予公布及关连交易的规定)。
现时，获豁免的大中华发行人若来港第二上市，而及後其大部分的证券交易永久转移到联交所市场时，则会被视为在香港作双重主要上市，并须全面遵守《上市规则》，但可保留既有不同投票权或可变利益实体架构。非大中华发行人毋须遵守这项交易转移规定。
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