Linklaters and Freshfields Bruckhaus Deringer are among a raft of major law firms raising concerns that proposed changes to Hong Kong Stock Exchange regulations will lead to a reduction in the number of listings taking place.

The changes, which are detailed in a joint consultation issued this June by Hong Kong’s Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing, include a proposal for the establishment of two new exchange committees, one of which will set listing policy and another that will decide on IPO and post-IPO matters that have “suitability concerns”.

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