Clifford Chance LLP

09/15/2020 | News release | Distributed by Public on 09/15/2020 00:46

Clifford Chance advises on Hang Seng TECH Index ETF tracking new flagship TECH Index

Clifford Chance advises on Hang Seng TECH Index ETF tracking new flagship TECH Index

Leading international law firm Clifford Chance has advised Hang Seng Investment Management Limited on the launch of the Hang Seng TECH Index ETF (stock code: 3032).

The Hang Seng TECH Index ETF tracks the performance of Hang Seng Indexes Company Limited's third flagship index, which captures the performance of the 30 largest technology-related companies (in terms of market cap) listed in Hong Kong.

The ETF will provide investors access to the growth potential of the technology sector through a range of diversified and representative technology related stocks and technology-themed investment options.

Clifford Chance advised on the establishment of the ETF, preparation of the offering documents, assisted with the authorisation process with the Securities and Futures Commission and the listing process with the Hong Kong Stock Exchange.

Partners Mark Shipman and Rocky Mui led the deal with support from Susie Wang, Matthew Wan, Cecilia Chung and Belle Lam.

Rocky offered, 'This is the new Tech index in Hong Kong recently established and is set to be one of the market's most important technology flagship indexes. We are proud to have advised Hang Seng Investment Management on the launch of the ETF and also to help advance the development of the ETF market in Hong Kong and provide investor access to the tech sector which has become increasingly important during, and post, COVID-19.'