Hong Kong bourse proposes allowing corporate weighted voting rights

[HONG KONG] The Stock Exchange of Hong Kong published proposals allowing companies to hold weighted voting rights in Hong Kong listed companies on Friday.

The bourse, a wholly owned unit of Hong Kong Exchanges and Clearing, in 2018 changed its rules to allow companies to list with shares carrying different voting rights, but ownership of these special shares was limited to individuals.

That earlier proposal, and the extension of weighted voting rights to companies were both strongly opposed by corporate governance advocates.

The consultation period for the latest proposal lasts unit 1 May 2020.

REUTERS