(Source: panoramic view)
Hong Xiaowi Reporter for the economic observer network ofBased on the major rules of reason, Huluntong soon sailed.
On December 4, the Shanghai Stock Exchange was sent to China International Capital Corporation (United Kingdom) Limited to designate the Trans-boundary Transformation Agency of the United Kingdom's Global Depository Receipt (GDR).
According to foreign news media, the London Stock Exchange Group will open Shanghai Luntong and announce the list of 14 companies. At that time, important people from the Shanghai Stock Exchange will go on to announce the list of Chinese and English companies selected, and the official opening of the transaction will wait until January.
Previously, Huatai Securities posted an ad. The company received approval from the CSRC on November 30, 2018 and will issue over 8251 million RDAs. Based on the conversion ratio determined by the company, the basic stock A-share will not exceed 8.2515 billion euros. shares If the conversion ratio has been adjusted, the number of GDR subjects can be adjusted accordingly. After the end of the year, the Huatai Values appear in the London Stock Exchange.
Huluntong refers to the two listed companies that meet the requirements, the list of deposits established in other market laws and regulations and the list of other markets and trade, and the cross-border conversion mechanism between receipts and basic securities. Linking between two markets.
And Huluntong entered the countdown "open to the traffic". Do institutional investors want to invest in companies listed in the UK? This interviewer interviewed a prominent person in a Shanghai fund, said the inauguration of Shanghai Luntong opened the direction of Eastern and Western businesses. Shanghai-Hong Kong Stock Connect, before opening the north-south direction, is fully integrated east, west, and north. The market milestone.
"However, according to the past experience, the deposits used by Hulundong are not active." Huluntong does not use a stock of more than 100 stocks to select the purpose of the Shanghai-Hong Kong Stock Connect in two directions. Shanghai Luntong may have fewer options, and Huluntong has accepted the receipt receipt. This means that the UK list company is ready to send the United Kingdom Report (a listed company in the Shanghai Stock Exchange listed in the Shanghai Stock Exchange). Domestic contribution companies should lift their hand at the GDR (List of Balances Receivable in General Shareholders' Meetings A-quotas). Likewise, looking for foreign watchdogs and brokers, the process is quite complex. "
"For the time being, the number of companies listed by CDRs and RDAs is not expected to increase significantly. It is too early to consolidate related products, let's first look".
Shanghai Municipal Government press conference on July 11 this year, Li Jun, Deputy Director of Finance, said Hulundong accepted the CDR method based on the CDR of stocks listed in Shanghai and London. Among the listed companies A-share, in addition to the Huatai Values, Kangmei Pharmacy, Tasly, Oriental Pearl and Huayou Cobalt intend to invent deposit receipts through Hulundong. The four companies have discussed with the most important parties, but still in the initial phase. . "
Zhang Qizhen, a Guosheng Securities analyst, believes that the opening of Huluntong is not beyond the bounds of the investment. The direct investment investments marketed in both places do not increase mutual investment and investment objectives. On the one hand, in addition to the IPO, the domestic market is rich in funding for channels. The historical division of foreign lists is strange, and the strength and rhythm of the CDR emission control is rigorously controlled in the initial phase, and the liquidity of the A-share market tends.