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
China’s CXMT Takes Aim at Global Leaders With High-End DDR5 Memory Chips
Huawei Slashes Flagship Phone Price Amid Slowing Shipments
Alibaba Scales Back Retail Spending, Dismisses AI Bubble Fears
LATEST
Pony AI Plans to Triple Robotaxi Fleet to 3,000 by 2026 as Revenue Jumps
China’s Semiconductor Software Push Gains Traction Amid U.S. Curbs
Alibaba Scales Back Retail Spending, Dismisses AI Bubble Fears
Huawei Slashes Flagship Phone Price Amid Slowing Shipments
China’s CXMT Takes Aim at Global Leaders With High-End DDR5 Memory Chips
Alibaba’s Profit Plunges 72% on Costly Foray Into Instant Retail
Xiaomi, Founder Stem Stock Rout With $115 Million Buyback
Analysis: Soaring Legacy Chip Prices Spark Windfall — and Risk — Across Supply Chain
Alibaba, Ant Race to Catch Rivals in China’s AI App Boom
New Flight System Targets ‘Blind Spots’ in China’s Low-Altitude Economy
Cover Story: The AI Boom’s Unsettling Paradox
AI Keeps China, U.S. From Decoupling Despite Trade Tensions, Insiders Say
Wingtech Demands Return of Nexperia Control After Dutch Freeze Pause
Intel Pivots to Custom Chips to Tap China’s Trillion-Yuan Computing Markets
Geely Leads $141 Million Round for Tsinghua-Linked Robotics Startup
China’s Giant Neutrino Detector Delivers First Results With Record Precision
China Unicom Taps Veteran Executive as Chairman to Navigate Telecom Transition
Chinese Self-Driving Firms Accelerate Into Middle East, Southeast Asia
Baidu Posts Record Revenue Decline as Ad Business Falters
Xiaomi’s EV, AI Units Post First Quarterly Profit
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