HKEX looks into cross-border listing with Indonesia
The Hong Kong Exchanges and Clearing (HKEX) said the SAR and Indonesia are looking into cross-border listing and dual listing for both sides, after it signed a memorandum of understanding (MOU) with the Indonesia Stock Exchange on Wednesday. The HKEX chief executive officer Nicolas Aguzin is part of the delegation led by Chief Executive John Lee on a visit to three Asean countries. The Indonesian capital, Jakarta, is the second leg of the tour. Hong Kong and Indonesia signed 15 MOUs on Wednesday, including one between the two stock exchanges. Aguzin said the Hong Kong and Indonesian bourses are looking into the possibilities of developing cross-border listing and dual listing. “We're in the early stages of trying to define the key areas that we need to harmonise in terms of the potential going forward, in terms of companies that want to do dual listings,” he said. “On cross-border listings, for companies that may want to tap our markets – and our very internationally renowned market – this would be a great opportunity for them to get capital to continue enhancing their potential and their growth in Indonesia.” Aguzin said the MOU between the two exchanges opens up opportunities to deepen collaboration. “The intention is to try to find ways of harmonising the requirements in terms of companies that want to raise capital in both places so that a lot of that international capital, a lot of that capital from China, can actually find their way to invest in companies from Indonesia,” he said. “Indonesia has so much in terms of innovation, growth and potential areas whereby capital can actually work to help the communities and the market to make sure that it develops the real economy.”