Jun 29, 2023 03:45 AM

FINANCE

HKEX to Cut IPO Settlements to Two Days on New Platform

By Wang Xiaoqing and Denise Jia

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What’s new: Hong Kong Exchanges and Clearing Ltd. plans to launch a settlement platform for initial public offerings in October that will shorten the time between pricing of a new listing and trading of shares, the exchange said Wednesday.

The platform, FINI, will cut the time between IPO pricing and trading from five business days to two, the operator of the Hong Kong Exchange (HKEX) said in a statement.

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