Hong Kong Exchanges and Clearing (HKEX) has appointed
Johnson Chui, a seasoned investment banker with over two decades of experience,
as Managing Director and Head of Global Issuer Services.
Chui’s role will be pivotal in HKEX’s efforts to draw
international companies to list in Hong Kong, diversifying the exchange’s
predominantly mainland Chinese issuer base, South China Morning Post reported.
HKEX’s Global Aspirations
Chui’s appointment also signals the exchange‘s
commitment to expanding its international reach. Chui will lead teams across
Hong Kong, mainland China, London, and Singapore, focusing on attracting a
broader spectrum of issuers to the city.
Chui brings a wealth of experience from top-tier
financial institutions, including Goldman Sachs, Citigroup, Credit Suisse, and
most recently, Nomura. At Nomura, he served as Managing Director and the Head
of Equity Capital Markets for Asia, excluding Japan.
His extensive background in equity capital markets
equips him with the expertise to navigate the complexities of global
fundraising. The HKEX has been making significant strides to position itself as
a leading global exchange.
Earlier this year, HKEX signed agreements with
exchanges in the Middle East and Indonesia to facilitate cross-listings, a move
aimed at attracting more international IPOs. Additionally, former CEO Nicolas
Aguzin expanded HKEX’s global footprint by opening offices in London and New
York, furthering the exchange’s reach into key financial markets.
“With more than 25 years of experience working in international capital markets, we know that Johnson will be a great addition to our leadership team and will help us reinforce HKEX’s position as a leading global exchange with issuers,” Wilfred Yiu Ka-yan, HKEX’s Deputy CEO told South China Morning Post.
Strengthening the IPO Market
HKEX is not just focused on attracting overseas
listings; it is also working to maintain its stronghold on the IPO market.
According to the SCMP, the exchange announced measures to lower the listing
thresholds for pre-revenue technology companies and special-purpose acquisition
companies.
The results of these efforts are reportedly beginning
to show. HKEX reported its best second quarter on record, with 18 companies
raising a combined HK$8.6 billion (US$1.1 billion), marking a 79% increase from
the previous quarter. The exchange is currently reviewing 106 listing
applications.
Last year, the Chinese securities broker Guotai Junan Securities launched a market-making business for multiple stocks under the Hong Kong dollar (HKD) – Renminbi (RMB) Dual Counter Model. Along with the Dual
Counter Market Making Programme, Hong Kong Exchanges and Clearing Limited
(HKEX) launched the HKD-RMB Dual Counter Model on the same day.
This article was written by Jared Kirui at www.financemagnates.com.
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