Hong Kong and Malaysia Introduce Single Submission for Dual IPOs

# What changed Commission (SFC) of Hong Kong and the Securities Commission Malaysia (SC) launched a Single Submission Arrangement for dual IPOs. Under this arrangement, a firm pursuing a dual listing—one market as primary and the other as secondary—submits one application and one listing document that can satisfy both jurisdictions' statutory and listing requirements.

# Which markets are included The arrangement covers listings on the Main Board of the Stock Exchange of Hong Kong (SEHK) and the MAIN Market of Bursa Malaysia Securities Berhad.

# How the process works Issuers and their advisers prepare one listing document intended to comply with both sets of rules. They submit that document through a single, coordinated submission channel instead of filing separately in each market. The SFC, SEHK and SC established dedicated review teams and set up contact channels for applicants and advisers. The regulators also aligned review timelines and streamlined how they raise queries, aiming to cut duplicate work and lower compliance costs.

# Why regulators promoted the change

# Practical implications for issuers and advisers

• Prepare a single, comprehensive listing document mapped to both jurisdictions' requirements. The arrangement is explicit that one document can meet both markets' rules.
• Engage early with regulators. The SFC, SEHK and SC encourage issuers and advisers to consult about deal structure and timetables before filing.
• Expect coordinated review interactions through dedicated teams and aligned timelines, which should reduce back-and-forth across two separate regulatory processes.

# What to watch for next The SFC published a circular detailing the arrangement. Firms planning dual listings should read the circular and reach out to the SFC, SEHK or SC to confirm specific submission channels, timelines, and any checklist items or technical points relevant to cross-border disclosures, accounting, corporate governance, or listing eligibility.

# Bottom line This Single Submission Arrangement operationalises the dual IPO listing framework agreed in the memorandum of understanding signed on 23 July 2026. It aims to simplify cross-border listings between Hong Kong's Main Board and Bursa Malaysia's MAIN Market by removing duplicate filings and coordinating regulator reviews, while keeping a focus on investor protection.