China's Huatai Securities to mark the launch of Shanghai-London Stock Connect on 14 Dec through its listing
Dec 05, 2018 (China Knowledge) - The Shanghai-London Stock Connect will be launched, next Friday, on 14 December. The stock connect will enable investors to buy stocks indirectly through depository receipts as both countries seek to link the Shanghai Stock Exchange (SSE) and London Stock Exchange (LSE).
This program was first discussed and brought up earlier in 2005. Officials from SSE are expected to attend the inauguration ceremony in London next week, where the first batch Chinese and British companies slated to participate in this stock connect will be unveiled.
Trading is scheduled to start after January, according to an insider from a Chinese brokerage firm. Reuters has also reported the potential listing by Chinese brokerage firm, Huatai Securities. The company is said to be publishing a prospectus to issue Global Depositary Receipts (GDR) soon.
Following the success of Shanghai-Hong Kong Stock Connect, the Shanghai-London Stock Connect will generate substantial buzz when launched. The Shanghai-Hong Kong Stock Connect has recorded an accumulative trading turnover of RMB 10 trillion, as of 31 August, with an average daily trading amount of RMB 10 billion.
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