United Kingdom shares list in China in first for foreign firms

19 Juin, 2019, 09:27 | Auteur: Auguste Feret
  • Huatai is the first China-based company to offer shares in London in two years

British and Chinese securities regulators have given their backing to a scheme launched Monday that will open up cross-border investment by allowing companies listed in the United Kingdom and China to raise capital by selling shares on each other's stock exchanges.

Similar links had already been established between the Shanghai and Shenzhen exchanges with Hong Kong's.

The system involves the use of depositary receipts which will allow investors to buy a stake in a company listed in another country without exposure to currency or accountancy risks.

The London-Shanghai Stock Connect has taken four years to prepare.

The connect, a two-way depositary receipt mechanism that brings together two of the world's largest capital markets, brings together one of the world's largest domestic capital markets - the Shanghai Stock Exchange - with the world's leading global market, the London Stock Exchange.

Skytrax names PAL as 'most improved airline' in 2019
The trend continued onto the smaller awards like best economy class and cleanest aircraft cabin. This year's results were presented at the Paris Air Show on Tuesday.

Anthony Joshua Talks About Tyson Fury's Win Over Tom Schwarz
D'ya know what I mean?' Arum said that next year's likely rematch with Wilder would take place in Las Vegas. The man who is now fourth in the IBF ranking and fifth in the WBC rankings could be the ideal fit for Fury.

Trump pressures Fed's Powell: 'Let's see what he does'
Hong Kong's hang Seng added 0.4 percent and Japan's Nikkei started the week flat, gaining less than 0.1 percent. Concerns that arch-Brexiteer Boris Johnson will replace Theresa May as prime minister have dogged sterling.

The scheme, which will launch today at a ceremony at the London Stock Exchange (LSE), is an arrangement between the LSE and Shanghai Stock Exchange (SSE) to encourage cross-border investments.

Under the newly-launched Connect scheme, Shanghai-listed companies can raise new funds via London's stock market while British companies can broaden their investor base by selling existing shares in Shanghai.

For the United Kingdom, it's an opportunity to demonstrate significant global trading ties at a time when the ongoing Brexit shambles is also rattling markets.

The Financial Conduct Authority and the China Securities Regulatory Commission said in a joint announcement that they will work together to regulate the so-called Shanghai-London Stock Connect to ensure its success. The UK government said the project will open up British firms to new investors.

Deepening trade links with Asia is a key United Kingdom goal as it leaves the European Union, and Hammond will celebrate the Stock Connect launch when he welcomes Vice Premier Hu Chunhua and a delegation from the Chinese government to London for talks on Monday. "We both believe in the positive contribution regulators can make in global capital markets, and the new co-operation we're announcing today will be an important contributor to the success of the scheme".

Conseillé:



Populaire

Machado's 'temper tantrum' not OK: Umpires association
The Padres signed Machado, 26, to a 10-year, $300 million contract during spring training. Machado isn't the only one upset with how Major League Baseball handled things, either.

'Game Of Thrones' Prequel Series Is Filming In Familiar Location
Weiss, who are writing and producing a new Star Wars trilogy, are not involved in this new Game of Thrones spin-off. Clarkson ( The Defenders , Jessica Jones , Untitled Star Trek Sequel ) will direct the pilot.

What Happened to Sarah Sanders? Why Is She Leaving the White House?
But less than two months later, Trump said his most loyal official would be leaving at the end of June. Sanders is leaving her position at the end of the month.

Arsenal refuse to sell Lucas Torreira to AC Milan
You go out in the morning and it is cloudy, you arrive late to your home and it is cloudy". It is very hard when you can't have dialogue. "The weather is also hard .

Google announces $1B investment to build 20,000 Bay Area homes
Google says the money should result in 20,000 new homes added to the local market, over 10 years. Freelance writer Michelle Robertson on why she made a decision to leave the San Francisco area.

A renewed battle awaits Trans Mountain expansion Subscriber content
Asked whether he would support any lawsuits filed against the project, Horgan said he'd have to look at the substance of the applications.

Latest points table updated after Bangladesh-West Indies match
Taunton is mainly cloudy and dry and the West Indies-Bangladesh match should play out without interruption. The Windies are down in seventh.

Golden State congratulates Raptors on National Basketball Association title with full-page newspaper ad
Police have confirmed that two people have been shot during the Toronto Raptors' NBA championship victory parade this Monday. It was a moment almost taken by a tragic and terrifying act of violence that could have ended up far worse.

Geraint Thomas crashes out of Tour de Suisse
Froome's mishap placed Thomas squarely into the team's leadership position for the Tour de France. Thomas had started the stage in eighth place.

Man accused of funding David Ortiz shooting is drug trafficker
Ortiz's attorney, Jose Martinez Hoepelman, said he was satisfied with how the investigation was going. Doctors removed his gallbladder and part of his intestines before he was flown to Boston.