18th Oct 2018 14:29
LONDON (Alliance News) - The Financial Times reported Thursday HSBC Holdings PLC is set to become the first foreign company to trade on a Chinese stock exchange.
According to the FT, the move has been "in the making for more than a decade" and could come to fruition using the London-Shanghai stock connect.
The connect is one of several plans to link China's public equity market with those of other countries.
The scheme could see the London Stock Exchange and the Shanghai Stock Exchange link, allowing global investors to access shares in Chinese companies and Chinese investors to buy London-listed stock.
The bank could become the first to offer Chinese Depositary Receipts - a tradeable security that reflects underlying shares listed elsewhere.
The trading link is expected to go live at the end of the year.
https://www.ft.com/content/e9b519b8-d28b-11e8-a9f2-7574db66bcd5
Shares in HSBC were down 0.8% Thursday at 619.70 pence each.
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HSBC Holdings