ChinaFIG consultants provide guidance to organizations on China Investments and China policies related to Initial Public Offerings (IPOs) in the US and Hong Kong (HKSE).

Minimum Public Float – Main Board – HKSE
At least 25 per cent of an issuer's total issued share capital must at all times be held by the public. The Stock Exchange may, at its discretion, accept a lower percentage of between 15 per cent and 25 per cent in the case of issuers with an expected market capitalization of over HK$10 billion at the time of listing, on condition that the issuers will make appropriate disclosure of the lower prescribed percentage of public float in the initial listing document and confirm sufficiency of public float in successive annual reports after listing. 

Source: HKSE