Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Chips Drive China’s Electronics Exports
China Fines Kuaishou Unit $3.8 Million for E-Commerce Violations
LATEST
China Fines Kuaishou Unit $3.8 Million for E-Commerce Violations
Chips Drive China’s Electronics Exports
Robots Take the Stage at China’s Spring Festival Gala
Alibaba Unveils New AI Chip to Rival Nvidia’s China Offerings
ASML Expects China Revenue Drop Following Backlog-Fueled Surge
China’s Telecom Industry Stalls as Traditional Revenue Dries Up
TikTok Outage Puts New U.S. Operations to the Test
Moonshot AI Gets More Into Agents With New Model
Texas Doubles Down on China Tech Ban, Adding AI and E-Commerce Giants
Chinese GPU-Maker Challenges Nvidia in Three-Year Development Plan
In Depth: Tencent Bets Its AI Future on 28-Year-Old From OpenAI
Alibaba Sets Sights on ChatGPT and Gemini With New AI Model
China’s AI App Developers Lure New Users With Digital Red Envelopes
StepFun Raises $717 Million, Outpacing Newly Listed AI Rivals
LandSpace Pushes Ahead With $1.1 Billion IPO as Exchange Reviews Application
Unitree Defends Robot Sales as Rival Claims Market Crown
Xiaomi to Buy Back $321 Million in Shares After $72 Billion Rout
Alibaba Plans Spinoff of Chip Arm T-Head Amid AI Boom
Moore Threads Projects 2025 Revenue to More Than Triple on AI Chip Demand
China’s AI Industry Tops $172 Billion as Manufacturing Integration Accelerates
Huatai Securities Wins Approval to Offer GDRs in London

By Zhang Yu and Han Wei / Jun 12, 2019 02:53 AM / Finance

Photo: VCG

Photo: VCG

Shanghai-listed Huatai Securities won approval from British financial regulators to sell as much as 82.5 million global depositary receipts (GDRs) on the London Stock Exchange, the company said Tuesday.

The offering will raise between $1.65 billion and $2 billion, Huatai said.

If the offering is completed, Huatai will become the first Shanghai-listed company to trade in London via the long-awaited Shanghai-London Stock Connect program. The Shanghai Stock Exchange said it expects more A-share listed companies to join the program as China continues opening its capital market.

Huatai announced the planned GDR issuance earlier this month, saying the issues represent 10% of the brokerage’s total ordinary share capital prior to the offering. Huatai last year brought in strategic investors such as Alibaba and Suning.

Related: Huatai Securities to Offer GDRs in London via Stock Connect

Share this article
Open WeChat and scan the QR code