While LSE management was scathingly dismissive of the HKEX offer, many of its shareholders might well have been tempted – especially if the Hong Kong exchange had increased the cash component of its bid. What’s left for Hong Kong? HKEX CEO Li, who earned HK$29 million ($3.7 million) last year, likes to talk up Hong Kong as the gateway for foreign capital to China. Local retail and institutional investors accounted for only 30% of HKEX trading last year, according to the exchange. The actual number is likely to be quite a bit higher, as U.S. banks also trade Hong Kong stocks using their principal accounts.

Source: Washington Post October 08, 2019 05:15 UTC