Hong Kong, Malaysia regulators simplify dual-listing procedures

Sept 30 (Reuters) - Securities regulators in Hong Kong and Malaysia on Wednesday unveiled simplified procedures allowing companies to submit a single application to list on both exchanges.

Here are some details:

• The Securities and Futures Commission of Hong Kong (SFC) and the Securities Commission Malaysia (SC) announced separately a single submission arrangement to streamline simultaneous listings, bringing into operation a dual IPO listing framework outlined in a memorandum of understanding signed by the two regulators in July.

• Under the arrangement, companies seeking a primary listing on Hong Kong's or Malaysia's main board stock exchange, along with a simultaneous secondary listing on the other market, need to submit "only a single listing application submission with a single listing document".

• Both regulators have established dedicated dual-listing review teams and will coordinate review processes, together with the main board of the Hong Kong stock exchange, to align timelines, minimise duplication and streamline queries to applicants.

• The initiative will enhance access to cross-border fundraising opportunities and broaden investor reach and further strengthen the attractiveness of both markets as investment destinations, said SC chairman Mohammad Faiz Azmi.

• "This timely follow-up to our landmark MoU crystallises our shared vision to deepen regional capital market connectivity for mutual prosperity," said Ms Julia Leung, Chief Executive Officer of the SFC.

• The framework comes nearly a year after Singapore announced plans to make SGX-Nasdaq dual listings easier.