Hong Kong stock exchange’s plan to attract tech listings by expanding dual-class shares structures gains traction

Hong Kong Exchanges and Clearing has gained support among fund managers and stockbrokers for its mooted plan to attract more tech giants to list in the city by allowing expanding the use of dual-class shares.

The city’s exchange has proposed allowing corporate shareholders, as well as founders and key managers, to own shares with more voting rights than other shareholders. The exchange is collecting views on its plan until Sunday.

While fund managers and stockbrokers remain wary of allowing a handful of shareholders to exercise overweening influence on a company’s future, they hope more safeguards will protect ordinary shareholders.