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Going Public Overseas Raised US$13.8 Billion in Foreign Capital
There are currently forty-eight domestically registered companies that listed in overseas stock exchanges and raised US$13.8 billion in foreign capital.
Gao Xiqing, the vice chairman of China Securities Supervisory Committee (CSSC) pointed out recently that CSSC would amend and improve regulations for listing overseas based on the international markets, creating a more favorable environment for Chinese enterprises to raise funds in international capital market. H-share companies will be able to choose from a variety of methods to diversify its share holding structure.
According to the China SecuritiesGao remarked at a symposium for managers of companies listing overseas that China actively supports domestic firms' entry into international capital market while trying to develop the domestic securities market at the same time.
He said that H-share companies have made remarkable achievements in improving legal regulation structure and establishing modern corporate systems. The level of standardized operation has constantly improved. With the emergence of major stocks like China Petroleum, the H-shares market structure is undergoing major changes. The status of H shares in the Hong Kong stock market is slowly rising and the H-share market has a huge potential to develop.
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