Hong Kong REITS Association (HKREITA) made a submission to Hong Kong Exchanges and Clearing Limited (HKEX) on 22 December 2023 on a Consultation Paper on Proposed Amendments to Listing Rules relating to Treasury Shares.
HKREITA is supportive of the proposal to remove the requirements to cancel repurchased shares and adopt a framework to govern the resale of these treasury shares. The proposal will provide flexibility to H-REITs in managing their capital structure and offer an alternative means to raise fund. Moreover, HKREITA considers that there are still uncertainties to the proposal and hope the HKEX can give our comments their due consideration.
Document can be viewed here.