HONG KONG -- Hong Kong on Friday announced an enhanced timeframe for new stock listings, giving companies greater certainty in the timing of their initial public offerings (IPOs), a move that is expected to elevate Hong Kong's attractiveness as a leading international listing venue.

The enhanced framework clarified rules for applications fully meeting requirements, accelerated timeframe for eligible A-share listed companies, and applications requiring longer process, the Securities and Futures Commission (SFC) and the Hong Kong Exchanges and Clearing Limited (HKEX) said in a joint statement.

Michael Duignan, the SFC's executive director of corporate finance, said that the SFC has always been committed to transparency, accountability and better efficiency in listing regulation, and the improvement is in line with its strategic priority to enhance the global competitiveness and appeal of Hong Kong's capital markets.

Katherine Ng, HKEX's head of listing, said that the enhanced timeframe will provide greater clarity and certainty in the application process for new listing applications, further elevating Hong Kong's attractiveness as an international financial center.

The enhanced application timeframe will be applicable to new listing applications filed after the statement, the regulators said.