ARTICLE
5 January 2026

Hong Kong Capital Markets Update – Issue 06, December 2025

KP
KPMG

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KPMG in China has offices located in 31 cities with over 14,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located.

KPMG is a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organisation or to one or more member firms collectively.

New regular public float reporting requirements, and (ii) Additional public float disclosure obligations and a restriction from corporate actions for issuers with public float shortfalls
Hong Kong Finance and Banking
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HKEX's consultation conclusion on Ongoing Public Float Requirements.

On 17 December 2025, the Stock Exchange of Hong Kong Limited (the "Exchange") published the consultation conclusions on proposed amendments to Listing Rules relating to ongoing public float requirements.

The Exchange will broadly adopt the proposals outlined in the 2nd Consultation Paper with minor modifications and clarifications (please refer to our Capital Markets Update Issue 2025-05).

The key amendments are summarised as below:

  1. New alternative ongoing public float threshold
  2. A bespoke ongoing public float requirement for A+H issuers
  3. (i) New regular public float reporting requirements, and (ii) Additional public float disclosure obligations and a restriction from corporate actions for issuers with public float shortfalls
  4. New requirements and consequence for Significant Public Float Shortfall
  5. Abolish the practice of trading suspension

The Listing Rule amendments relating to ongoing public float requirements will come into effect on 1 January 2026.

To view the full article please click here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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