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
Zhongji Innolight Clears Hong Kong Listing Hearing for Potential $7 Billion IPO
China Issues First Level 3 Certifications Under AI Device Grading System
LATEST
Kai-Fu Lee Says AI Will Soon Reshape Corporate Reporting and Management
Flashy Robot Demos at WAIC Mask Struggles With Real-World Deployment
Kimi K3 Demand Surge Forces Moonshot AI to Pause Sign-Ups
Chinese AI Chip Startups Look Beyond the Cloud to Edge Devices
Biren Unveils 1,024-GPU Optical Super Node Architecture
As AI Agents Take Off, Integration Becomes an Obstacle
Zhongji Innolight Clears Hong Kong Listing Hearing for Potential $7 Billion IPO
China Issues First Level 3 Certifications Under AI Device Grading System
In Depth: China’s AI Boom Creates Demand for a New Kind of Engineer
China’s First AI Companion Rules to Curb Addiction, Protect Minors
China Clears Mobile AI Models, Paving Way for Apple Intelligence
Alibaba Leads $439 Million Funding Round for AI Video Startup AIsphere
Smartphone Shipments Slump as AI Demand Squeezes Memory Supply
StepFun Aims to Bring AI to the Masses With Smartphone
Chinese Robotics Startup Raises $200 Million
Tencent Expands AI Computing Capacity After Hy3 Demand Surge
Xiaomi Cuts Jobs Across Divisions as Earnings Come Under Pressure
Chinese AI Developer MiniMax Raises HK$16 Billion From Equity, Convertible Bond Sale
Tokopedia Downsizing Sparks Indonesian Government Concerns Over Mass Layoffs
AI Chipmaker Enflame Wins Approval for $883 Million STAR Market IPO
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