BEIJING, Oct 9 (Reuters) – Twin-class shares, which have transformed to major listings in Hong Kong, may be included within the cross-border Inventory Join scheme, Shanghai and Shenzhen inventory exchanges stated on Saturday, doubtlessly channeling recent cash into eligible shares.
The Inventory Join is an funding channel that connects the Hong Kong, Shanghai, and Shenzhen inventory exchanges.
In a press release, the bourses gave the instance of Shanghai-based video platform Bilibili Inc. (9626.HK), whose shares are listed in america and Hong Kong.
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After the corporate transformed its secondary itemizing in Hong Kong to a major itemizing on Oct. 3, its shares may be added to the Southbound leg of the Join scheme as quickly as March, in the event that they meet sure situations, the bourses added.
A rising variety of China’s dual-class corporations, together with e-commerce big Alibaba Group (9988.HK) and fast-food restaurant chain operator Yum China Holdings (9987.HK), even have utilized to transform their secondary listings in Hong Kong to major ones.
Twin-class shares give larger voting rights to firm founders over particular person buyers.
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Reporting by Beijing newsroom; Enhancing by Ana Nicolaci da Costa
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