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HSBC aims at making IPO in Shanghai |
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13:40, August 28, 2009 |
"Making an Initial Public Offering (IPO) in Shanghai is a goal the HSBC is pursuing," said President Richard Yorke of HSBC China. He emphasized that HSBC wanted to be listed on the A-share market as a whole rather than only its business in China.
"We hope that HSBC will be the first foreign company, or at least one of the foreign funded enterprises listed on the A-share market." He said that the company has initiated its plans to make an IPO but had no time form now.
He noted that HSBC's IPO on the A-share market would contribute to Shanghai's efforts to build the city into a global financial center and would help HSBC's expansion in Chinese mainland.
Foreign firms' listing on the A-share market would be a natural outcome of China's financial reform, said Yorke.
"Everything that helps to build Shanghai into a global financial center will also be good for the HSBC." He said.
By People's Daily Online
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