October 10, 2017 / 3:11 AM / a year ago

Hong Kong exchange needs weighted voting rights for new trading board - exec

HONG KONG, Oct 10 (Reuters) - Hong Kong needs to adopt weighted voting rights to attract so-called new economy companies to list on a trading board that is planned to lure major Chinese firms which pick New York over Hong Kong, a senior executive of the exchange said.

David Graham, chief regulatory officer and head of listing at Hong Kong Exchanges and Clearing Ltd, which operates the stock exchange in the Asian financial hub, made the comment at the Thomson Reuters Pan-Asian Regulatory Summit.

Hong Kong Exchanges and Clearing unveiled a proposal in June for a new board that would allow companies with share structures providing special voting rights, and those yet to make a profit, to list. (Reporting by Elzio Barreto and James Pomfret; Writing by Sumeet Chatterjee; Editing by Richard Borsuk)

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