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HSBC and CITIC Pacific eyeing share sale in China's "international board" |
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13:05, September 16, 2009 |
China to allow foreign-invested companies to list: commerce minister
HSBC and CITIC Pacific has hired China's CITIC Securities, a leading underwriter of the Shanghai share offering, for possible A-share listing, reported today's Shanghai Security News.
An insider from CITIC Securities said that the company has already received HSBC and CITIC Pacific's letters of intent and was making preparations.
A staff at HSBC Holdings confirmed that the company has named China International Capital Corporation Limited (CICC) and CITIC Securities as securities underwriters. The spokesperson of CITIC Pacific said it is "very interested" in selling shares in Chinese mainland pending new regulations.
On September 15, Standard Chartered's Chief Executive Peter Sands said that the group seeks to be listed in Shanghai or Mumbai. The group is listed on the London Stock Exchange and the Hong Kong Stock Exchange, and has expressed its intentions of being listed in China.
China will allow qualified foreign-invested enterprises to list in the country's stock market, Chen Deming, Minister of Commerce, said on September 8.
By People's Daily Online
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