Hong Kong Exchanges and Clearing (HKEX) just announced its biggest listing reform in eight years, allowing all listing applications to remain confidential and slashing market-capitalization thresholds for startups and international firms. The reforms, effective immediately, lower the valuation bar for weighted voting rights (WVR) companies to HK$20 billion (US$2.6 billion) from HK$40 billion, and reduce requirements for revenue-test listings to **HK$6 billion in market cap...