The decision by the Hong Kong Listing Committee to accept the Isle of Man as an approved jurisdiction means companies incorporated under the two main bodies of company legislation in the Isle of Man – the Companies Acts 1931-2004 and the Companies Act 2006 – can now seek a HKSE listing.
Juan Watterson MHK, political member of the department of economic development responsible for financial services, said: “This paves the way for the Isle of Man to attract foreign issuers to list on the HKSE. In recent years, the Island has become the leading jurisdiction for listing foreign companies on the UK’s AIM market; a number of our commercial law firms already have considerable international expertise working with Asian lawyers including equity and debt issues by Isle of Man companies on other Asian exchanges and in some cases have representative offices in Asia.”
The decision to include the Isle of Man on the list of approved jurisdictions follows the signing of a memorandum of understanding between the two countries at the end of last month.
