Home Stock list China to include eligible dual-listed stocks in Stock Connect program

China to include eligible dual-listed stocks in Stock Connect program

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BEIJING, Oct 9 (Reuters) – Dual-class stocks, which have converted to primary listings in Hong Kong, may be included in the cross-border Stock Connect scheme, the Shanghai and Shenzhen stock exchanges said on Saturday, potentially channeling financial money into eligible shares. shares.

Stock Connect is an investment channel that connects the stock exchanges of Hong Kong, Shanghai and Shenzhen.

In a statement, the exchanges gave the example of the Shanghai-based video platform Bilibili Inc. (9626.HK), whose shares are listed in the United States and Hong Kong.

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After the company converted its secondary listing in Hong Kong to the primary listing on October 3, its shares can be added to the southern leg of the Connect program as early as March, if they meet certain conditions, the exchanges added.

A growing number of dual-class Chinese companies, including e-commerce giant Alibaba Group (9988.HK) and fast-food chain operator Yum China Holdings (9987.HK), have also asked to convert their listings. secondary in Hong Kong in the primaries.

Dual-class shares give company founders greater voting rights than individual investors.

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Beijing newsroom reporting; Editing by Ana Nicolaci da Costa

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