Main Market (Official List)
- Minimum market capitalisation
- USD 1m
- Minimum free float
- 10%
- Track record
- 3 years
- Profit required
- Yes
- Minimum shareholders
- Not specified
- Lock-up
- Not specified
Exchange comparisons
AIX or HKEX
Listing requirements of AIX and HKEX compared from the directory data. Check the primary sources before making decisions.
Data checked: 6 November 2026
Key facts
| Astana International Exchange | Hong Kong Exchanges and Clearing - Main Board | |
|---|---|---|
| Location | Astana, Kazakhstan | Hong Kong, Hong Kong SAR, China |
| Regulator | Astana Financial Services Authority (AFSA) | Securities and Futures Commission (SFC); listing regulator - The Stock Exchange of Hong Kong |
| Trading currency | USD | HKD |
| Indicative timeline | Not specified | Not specified |
| Listing segments | 2 | 1 |
Segments side by side
Figures by segment from the exchange rulebooks. Not specified means the rule does not set the figure or it has not been verified yet.
AIX
Regional Equity Market Segment (REMS)
- Minimum market capitalisation
- USD 1m
- Minimum free float
- 10%
- Track record
- 1 year
- Profit required
- No
- Minimum shareholders
- Not specified
- Lock-up
- 12 months
HKEX
Main Board
- Minimum market capitalisation
- USD 64m
- Minimum free float
- 25%
- Track record
- 3 years
- Profit required
- No
- Minimum shareholders
- 300
- Lock-up
- 12 months
Astana International Exchange
Who each exchange suits
- Very low entry threshold: USD 1m market cap and 10% float
- English common-law framework (AIFC) and USD-denominated trading
- REMS segment for mid-size Central Asian companies with 1-year track record and no profit test
- Direct listing route for REM companies
What to check
- Liquidity is concentrated in a few large names, often dual-listed
- Main Market requires at least one profitable year out of three unless AIX grants a waiver
Hong Kong Exchanges and Clearing - Main Board
Who each exchange suits
- Deep international and mainland China capital pool, one of the largest IPO venues globally
- Alternative non-profit routes for large revenue-generating companies and specialist regimes for biotech and technology (18A, 18C)
- Tiered float lets large issuers float less than 25%
What to check
- 3-year trading record with management continuity under all Chapter 8 tests
- Sponsor-led due diligence and HKFRS/IFRS (or permitted US GAAP) reporting
- New ongoing public float reporting and -PF marker regime since 1 Jan 2026
Requirements change. Always confirm with the exchange and the regulator before making decisions. Educational material. Not investment, legal or tax advice.
Other comparisons
Which of the two fits your company?
Eurasia Consulting Group compares exchanges on the numbers and structure of a specific company.
Information on this site is educational. It is not investment advice, an offer of securities or financial advice. Exchange requirements change; always check the primary sources. Full disclaimer