exclusive | Hong Kong exchange backs down on contentious plan to double profit qualification for IPOs after outcry

• Companies seeking to raise funds on the HKEX’s Main Board must have earned at least HK$80 million in combined profits in the three years prior to the listing, the source said
• The HKEX received overwhelming opposition from brokers, accountants, investment bankers and legislators to its proposal to raise the profit threshold to HK$125 million