Mobius Backs Plan for Third Hong Kong Exchange That Funds Oppose
By-
Proposals could prevent city from losing future IPOs, he says
-
HKEX wants third exchange that would allow such structures
Mark Mobius has given his blessing to a new venue that would permit dual-class shares.
Hong Kong Exchanges & Clearing Ltd.’s plan that would allow dual-class companies to list at a bourse away from the city’s main exchange “is probably the answer,” said Mobius, executive chairman at Templeton Emerging Markets Group.
“People can make a choice, if they don’t like it they don’t have to invest,” Mobius said in an interview. “A separate board is interesting because then the index providers don’t have to include those companies in the index, as a lot of investors will refuse to invest in an index that has these shares in it.”
Indexers S&P Dow Jones Indices and London Stock Exchange Group Plc’s FTSE Russell said in July they would bar certain dual-class shares from being added to some of their gauges…
Mobius Backs Plan for Third Hong Kong Exchange That Funds Oppose
