HKEX (Hong Kong): Listing Requirements and IPO Guide

Headquarters

Hong Kong

Region

Asia-Pacific

Market Focus

China Gateway & Growth

Overview

Hong Kong Exchanges and Clearing operates the territory's securities and derivatives markets. Its defining role is as the bridge between mainland Chinese companies and international investors, offering access to global capital within a common law framework.

Stock Connect programmes link Hong Kong trading with the Shanghai and Shenzhen exchanges, allowing cross-border investment flows.

Known For

Mainland Chinese companies seeking international capital
Financial services and property
Secondary listings by companies already listed elsewhere
Stock Connect access to mainland Chinese markets

Listing Considerations

The primary international venue for China-exposed businesses
Listing rules have been adapted to accommodate weighted voting structures and biotech issuers
Common law framework differs from mainland Chinese regulation
Investor base skews heavily towards Asian institutions

Key Facts

Founded

1891

Operator

Hong Kong Exchanges and Clearing (HKEX)

Regulator

Securities and Futures Commission (SFC)

Main Index

Hang Seng Index

Currency

Hong Kong dollar (HKD)

Trading Hours

9:30 a.m. – 12:00 p.m. and 1:00 – 4:00 p.m. HKT

Market Segments

Main Board, GEM

Official website →

Listing Requirements

Profit test: profit of at least HK$80 million over three years (HK$35 million in the latest year) and market capitalisation of at least HK$500 million
Alternative tests using market capitalisation, revenue and cash flow, such as HK$4 billion market capitalisation with HK$500 million revenue
Public float on a sliding scale by market capitalisation since August 2025
Minimum market value of shares in public hands
Dedicated routes for pre-revenue biotech (Chapter 18A) and specialist technology (Chapter 18C) companies
GEM for smaller companies

Headline Main Board requirements from the HKEX Listing Rules, checked November 2026. Confirm current requirements before applying.

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HKEX (Hong Kong)