HK proposes two new listings committees to oversee IPOs

Hong Kong

HONG Kong's financial regulator and the operator of the city's stock exchange have proposed the creation of two new listings committees that they said would enhance supervision of the market.

The Securities and Futures Commission and Hong Kong Exchanges & Clearing Ltd on Friday put forward a plan for the committees, which would be equally represented by officials from the two bodies. The new structure would give the regulator more power to supervise initial public offering applications, they said in a joint statement.