(Yicai Global) June 10 -- The company behind the Hong Kong Stock Exchange has sought to assure that it complies with regulation regarding initial public offering application procedures after a media report claimed that one of the bourse's former executives helped unqualified IPO-hopefuls to get listed.  

Hong Kong Exchanges and Clearing has an effective mechanism to ensure the integrity of operations and to cement Hong Kong's legacy as a leading financial market that maintains transparency and continues to develop, while it does not comment on individual employee matters, a spokesperson from the bourse told Yicai Global. 

The institution conducted an internal investigation about the former employee who had joined the group in 2013 and led a team of 70 people, local medium Apple Daily reported. During the executive's two years of service, the person had sought to help more than 30 unqualified construction firms and food producers go public, some of which succeeded. 

The total market value of Hong Kong-listed firm exceeds HKD34 trillion (USD4.3 trillion), according to financial data provider Wind. The companies that went public last year raised HKD286.5 billion (USD36.5 billion), a record high in 8 years. This year, that number has so far amounted to HKD75 billion.

The special administrative region's stock market shrugged off the scandal by rebounding today. The Hang Seng Index, which tracks the performance of Hong Kong stocks, rose 2.3 percent to 27,578.64.

Editor: Dou Shicong, Emmi Laine