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原文节选自 Chinese firms attracted by Swiss listings as country pushes for more overseas IPOs

Jürg Schneider, spokesperson for Swiss exchange operator SIX, told the Global Times on Monday that SIX is working with relevant authorities and partner exchanges to progress on the journey started in 2019, after signing of the MoUs with Shanghai and Shenzhen, to establish an attractive Stock Connect system with Chinese exchanges that will allow Chinese companies to tap into the Swiss capital market, while ensuring the highest standards of investor protection.

“Such announcements – as the ones of the various Chinese companies last week – are proof of the interest in SIX and for such a set-up, and we will officially communicate together with the relevant Chinese exchange once the Stock Connect is ready,” according to Schneider.

This past week, three Chinese mainland-listed companies – heavy machinery maker Sany Heavy Industry, Lepu Medical Technology (Beijing) and battery maker Gotion High-Tech – disclosed in their filings with the Shanghai and Shenzhen exchanges plans to issue global depositary receipts (GDRs) on the Swiss exchange.

The planned GDR issues instantly put the spotlight on the primary European bourse that sits alongside the London Stock Exchange and Germany’s Deutsche Boerse.

Among the reasons for the GDR issues are an accelerated push for internationalization, the leverage of the capital market and improved corporate governance and shareholding structures, the filings said.

Both Sany and Gotion described the GDR plan as a response to the domestic capital market’s policy call as part of moves to deepen interconnections between the Chinese and European capital markets and the leverage of overseas capital markets to assist the real economy.

Posted from SLPRO Z

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Harvey Yan


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