Hong Kong Exchanges and Clearing is reducing the minimum shareholder requirement for new listings to 300 shareholders from 1,000. The exchange consulted the market and received 11 responses from listed issuers, professional and industry associations, market practitioners and individuals. All are understood to have supported the proposal. The exchange said that requiring a company to have at least 300 shareholders should be sufficient to ensure an open market and adequate retail investor participation. The new rule takes effect on February 1.