London-Shanghai Connect Goes Live
With the launch of the London-Shanghai Stock Connect project, companies listed in Britain will be able to sell shares in China on Monday.
Under the Connect scheme, Shanghai-listed companies can raise new funds via London's stock market while British companies can broaden their access to investor by selling existing shares in Shanghai. U.K. Chancellor of the Exchequer Philip Hammond called this a chance to deepen global connectivity, as reported by «Reuters».
«Stock Connect is a ground-breaking initiative, which will deepen our global connectivity as we look outwards to new opportunities in Asia,» Hammond is expected to say at Stock Connect’s first day of trading at the LSE.
Listing of Huatai
Huatai, one of China's largest brokerages, is expected to make its London market debut on Monday, becoming the first company to trade via the London-Shanghai Stock Connect project.
The linkup was intended to commence late last year with the December listing of Chinese brokerage Huatai, backed by Alibaba Group but the listing was delayed at the last minute.
