HSBC is on track to become the first foreign company to trade on a Chinese bourse under plans by a new stock exchange link between London and Shanghai.
In a move that has been in the making for more than a decade, the London-Shanghai stock connect plans to make the bank the first offering of Chinese depositary receipts — a tradeable security that reflects underlying shares listed elsewhere.
The London-Shanghai stock connect is one of several plans to link up China’s public equity market with that of other countries. The scheme aims to link the London Stock Exchange and the Shanghai Stock Exchange, allowing global investors to access shares in Chinese companies and Chinese investors a chance to buy LSE-listed stock.
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