July 18, 2018 / 12:57 AM / 3 months ago

HKEX says it is working with mainland on inclusion of dual-class shares in stock connect

HONG KONG,July 18 (Reuters) - The Hong Kong stock exchange said on Wednesday it has agreed with China’s mainland stock exchanges to work towards the inclusion of weighted voting right companies in the stock connect scheme that links mainland exchanges with the Asian financial hub.

The announcement came after China’s stock exchanges said on Saturday they would not expand their stock connect scheme with Hong Kong to foreign firms, companies with different voting right structures and so-called “stapled” securities.

On Monday, Hong Kong Exchanges & Clearing chief executive Charles Li said he was flying to Beijing to discuss the rule change with mainland authorities. (Reporting By Alison Lui and Donny Kwok; writing by Anne Marie Roantree; editing by Richard Pullin)

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