SFC shoots down HKEx's dual-class shares plan

Hong Kong’s securities regulator has rejected the local bourse's draft proposals to introduce dual-class share structures into the market. The Securities and Futures Commission's (SFC) surprisingly public move has effectively killed off the Hong Kong stock exchange’s proposals to introduce the controversial share structure, but a modified plan could be submitted for consideration. The proposals, which were outlined by Hong Kong Exchanges and Clearing (HKEx) last week in a bid to…