Australia’s first stock exchange specifically targeting Chinese listings began trading yesterday, raising A$8m for two mainland companies and making a sales pitch to others eager to escape listing delays that are affecting the Shenzhen and Shanghai bourses.
Sydney-based Asia Pacific Stock Exchange said it expected to list up to 10 companies this year as it exploited growing business links and capital flows between Australia and the region. APX is aiming to attract Chinese and other Asian companies keen to expand into a western market, as well as Australian groups keen to expand their investor base into Asia.
“There have been delays and a waiting list for companies listing in China and one of the advantages we offer is no queues,” said Joseph Law, director of business development at APX. “Australia has one of the best regulatory regimes, which gives investors confidence.”