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BEIJING — Twin-class shares, which have transformed to major listings in Hong Kong, may be included within the cross-border Inventory Join scheme, Shanghai and Shenzhen inventory exchanges stated on Saturday, doubtlessly channeling recent cash into eligible shares.
The Inventory Join is an funding channel that connects the Hong Kong, Shanghai, and Shenzhen inventory exchanges.
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In an announcement, the bourses gave the instance of Shanghai-based video platform Bilibili Inc., whose shares are listed in the US and Hong Kong.
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After the corporate transformed its secondary itemizing in Hong Kong to a major itemizing on Oct. 3, its shares may be added to the Southbound leg of the Join scheme as quickly as March, in the event that they meet sure situations, the bourses added.
A rising variety of China’s dual-class firms, together with e-commerce large Alibaba Group and fast-food restaurant chain operator Yum China Holdings, even have utilized to transform their secondary listings in Hong Kong to major ones. Twin-class shares give higher voting rights to firm founders over particular person buyers. (Reporting by Beijing newsroom; Modifying by Ana Nicolaci da Costa)
