Preliminary Rules for Shanghai-London Stock Connect Released
The securities regulator has released initial guidelines for the much-awaited Shanghai-London Stock Connect program, including a minimum cap of 20 billion yuan ($2.89 billion) of market capitalization for the U.K.-listed firms seeking to issue depositary receipts in China.
The China Securities Regulatory Commission (CSRC) issued the guidelines on Friday, paving the way for the launch of the program by the end of this year. The new investment channel will allow stocks listed in Shanghai and London to be traded in each other’s market by issuing depositary receipts.
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