Futu was the latest US-listed Chinese firm to make the bid to dual list its shares in Hong Kong to reach a wider investor base and hedge against the risks of getting kicked off New York exchanges. Although such a threat appeared to ease earlier this month, regulatory headwinds still exist.
Futu Holdings Ltd., a Chinese online broker backed by Tencent Holdings Ltd., has abruptly postponed its Hong Kong listing less than a day before its scheduled debut on Friday.
Futu, which operates like Robinhood Markets Inc. in the US for clients mainly in Hong Kong and China, said it was “clarifying certain matters” with the Hong Kong Stock Exchange in a Thursday filing, without elaborating. The HKEX declined to comment.
