As Hong Kong's public perform social distancing in order to minimise the spread of the COVID-19 coronavirus strain, HKEX has embraced digital by holding its first-ever virtual listing ceremony, offering more flexibility for issuers.
On 23 March, Beijing-based cancer drugs developer InnoCare Pharma debuted on HKEX, the first 18A listed company to be listed in 2020, and the first to use the virtual listing ceremony service. Currently, non-Hongkongers are not able to visit the city due to the government shutting down almost all control points between Hong Kong and mainland China. Aiming to provide more flexibility for issuers who cannot travel to Hong Kong to attend a listing ceremony in person, HKEX introduced the optional virtual listing service, which is open to all issuers, during the COVID-19 period.
The procedure of the virtual listing ceremony is similar to a normal listing ceremony. The listed company is invited to give a speech while the management of HKEX joins the greeting, in a pre-recorded video+. The virtual listing ceremony included appearances by Charles Li, HKEX chief executive, Christina Bao, head of global issuer services, and Silvia Chen, head of China issuer services.