In the first two deals of their kind to date, two Australian companies were recently delisted from their home share market and came to be listed in Hong Kong.
“It is a big decision for a listed company to change its listing venue, and we can expect a multitude of factors behind such a decision,” Candy Chan, a partner at King & Wood Mallesons (KWM) in Hong Kong, told China Business Law Journal. “For instance, one consideration would be the difficulty of further capital raising in Australia.”
The Dragon Mining IPO was the second in which an Australian company delisted from the Australian Securities Exchange (ASX) and listed on the main board of The Stock Exchange of Hong Kong Limited (HKEX).
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