Hong Kong Exchanges and Clearing will slash the listing fee for debt securities by an average 30 per cent to attract more bond listings, the exchange announced yesterday.
Government sources said that besides the fee cut, the Government would as soon as today announce a range of other measures to encourage more companies to issue debt paper.
The exchange yesterday said the fee cut will be effective from Monday on debt paper listed after that date. For debt paper with a term of less than two years and worth up to HK$100 million, the fee will be HK$10,000.
For 10-year paper worth more than HK$500 million, the fee will be HK$90,000.
A government source said that among several soon-to-be-announced measures will be a rule change allowing companies to disclose less information in the prospectus for their debt paper.
'Many listed companies are already well-known to investors, and have already given much information in their financial statements and annual reports,' the source said.
