MGM China adopts alternative public float threshold after switching to share-based executive incentives

MGM China has switched from the Hong Kong Stock Exchange’s standard Initial Prescribed Threshold for minimum public float requirements to the Alternative Threshold following the introduction of share-based incentive awards for two key executives: CEO Kenneth Feng and CFO Jeny Lau. The company, which had previously received a waiver from the exchange allowing it to maintain a minimum public float of 21.6% – below the standard 25% requirement – noted in a Friday filing that the Alternative Threshold will allow it to maintain a minimum public float of 10% of issued share capital, provided the public float has a market…