Former Co-Head of Hong Kong IPO appraisal joins a crypto company

By Eric Lam, Bloomberg Quint

(Bloomberg) — Lin Shi, a former Hong Kong stock exchange executive who helped to vet initial public offerings, has joined a cryptocurrency platform that is seeking to provide securitized token listings. Shi has become chief development officer at Hong Kong Digital Asset EX Ltd., according to a statement. She will oversee research and development, including securitized token offerings and other digital-asset trading products. Shi used to be co-head of IPO vetting at Hong Kong Exchanges & Clearing Ltd.

She said she will focus on creating round rules for securitized token listings for her new employer. The firm has applied for a virtual asset license from the Securities & Futures Commission. One potential source of security token interest is from Chinese companies exiting the U.S. and seeking listings in China or Hong Kong due to rising tensions, Shi said.

Shi resigned from the Hong Kong stock exchange earlier in 2020. Hong Kong Digital Asset EX’s founder and chief executive, Gao Han, also previously worked at the Hong Kong stock exchange, according to a biography on his firm’s website. Hong Kong crypto firm BC Technology Group Ltd.’s OSL unit secured an approval-in-principle from the securities commission on Aug. 21.

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