INSUBCONTINENT EXCLUSIVE:
Chinese investors will be barred from trading in shares of dozens of foreign companies and those with weighted-voting rights such as Xiaomi
Kong through the stock link
companies believe the mainland investors do not fully understand the complexity and risks that come with more exotic products, and that more
decision is another setback for Beijing-based Xiaomi to attract local investors
The mobile phone maker was the first company with weighted voting rights to list on the Hong Kong bourse and had already postponed issuing
Chinese depositary receipts amid a sluggish market
The ban also may continue to make Hong Kong-listed companies that do most of their business outside greater China, such as Prada, Samsonite
Hong Kong Exchanges Clearing Ltd
said that it is very selective in allowing the listing of weighted-voting rights companies and that sufficient safeguards to protect
investors are already in place, according to a statement released after the ruling
