In This Article:
Hong Kong Exchanges and Clearing (HKEX), the operator of Asia's third-largest stock market, has hired a veteran investment banker to lead its efforts to attract global companies to raise funds in the city and expand its base from predominantly mainland Chinese issuers.
Johnson Chui joins the HKEX as managing director and head of global issuer services, a newly created role to lead the global issuer services teams based in Hong Kong, mainland China, London and Singapore, according to a statement on Tuesday.
Chui, who has more than two decades of experience in equity capital markets, spent his career helping companies raise capital at Goldman Sachs, Citigroup, Credit Suisse and Nomura.
Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.
Hong Kong's top officials and HKEX executives have been making pitches to global investors to make the city their top fundraising destination.
Johnson Chui joins HKEX as managing director and head of global issuer services on Sepetmebr 2. Photo: HKEX alt=Johnson Chui joins HKEX as managing director and head of global issuer services on Sepetmebr 2. Photo: HKEX>
In March, Financial Secretary Paul Chan Mo-po told the Fortune Innovation Forum that the city must continue to promote itself to global investors to attract listings by international companies. "We are diversifying our sources for new listed companies, as well as the sources for our capital and investors coming to use our platforms," he said.
HKEX, too, has been gearing up to capture international listings after signing agreements with exchanges in the Middle East, Indonesia and other markets for cross-listings, CEO Bonnie Chan Yiting said in an exclusive interview with the Post in June.
Former CEO Nicolas Aguzin opened overseas offices in London and New York last year to attract international listings.
About half of the city's 2,600 listed companies are from mainland China, which represent 80 per cent of the market's turnover. HKEX's Chan said the bourse operator would continue to attract Chinese and international listings, as well as entice mainland and overseas investors to trade here.
Chui's appointment is yet another effort by the HKEX to promote its initial public offerings (IPOs) market. Last Friday, the bourse operator said it would lower the minimum threshold for pre-revenue technology companies to launch IPOs. It also said it would reduce the transaction threshold for listings through special-purpose acquisition companies. Both measures are for a period of three years.