Caixin Global – Latest China News & Headlines

Home >


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.

Luckin Co-Founders Hand Over Shares to Lenders After Defaulting on Half Billion Dollar Loan
Huawei Pay Debuts in Singapore
Will iQiyi be the Next Luckin?
Apple Partner Foxconn to Start Making Ventilators in U.S.
Will iQiyi be the Next Luckin?
China Gives Final Key Approval for German Chip Giant Infineon to Buy U.S. Rival
Japan Emergency Decree Shuts Headquarters, Nintendo Flagship
Tencent Becomes Majority Shareholder in Chinese Game Live-Streamer Huya
Luckin Co-Founders Hand Over Shares to Lenders After Defaulting on Half Billion Dollar Loan
Huawei Pay Debuts in Singapore
Credit Suisse Drops Off WeDoctor’s Planned Hong Kong IPO
Subsidies for Residential Solar Projects Slashed but Capacity Still Set to Grow Shares Jump on Buyout Offer
Toyota and BYD Launch EV Joint Venture in China
Alibaba’s Lazada Briefly Stops New Singapore Grocery Orders
Data from Alipay Shows Signs of Consumption Returning as Some Virus Restrictions Eased
Countries Across the World Start to Suspend Food Exports to Secure Domestic Supplies
SASAC Gives Birth to New Asset Manager
China Mobile and Ubitus Team Up to Attract 5G Gaming Subscribers
China Weighs Cuts to Electric-Car Subsidies It Just Extended
Carmaker BYD Profit Plunges in 2019
Huawei and ZTE Win Nearly 90% of China Mobile’s Latest 5G Contracts
Cash-Burning Pinduoduo Raises $1.1 Billion to Finance Growth
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