Micro Connect seeks Hong Kong listing

 jun25

Micro Connect has applied to list on Hong Kong’s stock exchange, with the application filed on Wednesday aimed at raising funds from institutional investors.

Micro Connect is a fin-tech company founded by Charles Li, the former CEO of Hong Kong Exchanges and Clearing – with the objective of raising capital for mainland China’s micro and small businesses.

The exchange platform boasts a tradable financial instrument called the daily revenue obligation. In theory, investors receive a share of daily revenues from businesses, a new concept that challenges the traditional interest or equity.

According to the Wednesday filing from Micro Connect International Finance Company, an investment company set up in May, Micro Connect seeks to be registered as a closed-end investment company under Chapter 21 of listing rules.

In other words, the distribution of shares will be confined to professional investors instead of the general public.

In an exclusive interview with Macau Business in April last year, Li envisioned his brainchild to grow as a formidable rival to the Hong Kong stock market in terms of capital raised in a few years’ time.

The 2021 launch of Micro Connect aligned with Macau authorities’ vision for a more diversified economy, with financial innovation serving as a key driver of that transformation.

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