HSBC plans list its shares in Shanghai


HSBC Holdings, one of the largest banks in the world and a leader in terms of capitalization and asset volume in Europe, intends to list its shares in Shanghai, this listing will be the first for a foreign company in mainland China, the Financial Times reported, citing informed sources. The listing is planned as part of a cross-bidding program on the Shanghai and London stock exchanges. The program is aimed at expanding the access of foreign investors to the PRC market, and trading can begin before the end of this year. For registration of papers in Shanghai, HSBC will have to place Chinese depositary receipts.

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