China’S Cosco Transportation Considers London Listing – Sources

From gCaptain, Dec. 7:

China’s largest transportation group, COSCO Shipping, is considering raising uppercase for the outset fourth dimension on the London Stock Exchange through a novel first with Shanghai’s bourse, ii finance sources familiar with the affair said.

The Shanghai-London Stock Connect volition enable Chinese companies to heighten fresh coin on the LSE through issuing global depository receipts (GDR), which could boost momentum with concerns that Brexit could dent the City of London’s leading seat inwards fiscal markets.

The LSE is hoping to become a boost from Communist People's Republic of China every bit the world’s fastest growing uppercase market.

The sources, who declined to identified citing sensitivity, said COSCO Shipping Holdings Co, which is Shanghai in addition to Hong Kong listed, was examining the possibility of issuing GDRs inwards London. No conclusion had been taken yet, partly every bit it would too quest Chinese regulatory approval.

“Any uppercase raising would endure large to arrive worthwhile in addition to too to bolster connections with unusual investors,” i of the sources said.

The 2nd origin added: “For political reasons every bit well, London would endure a preferable uppercase finish for COSCO rather than New York, for instance.”...MORE