HK Exchanges sets date for new scheme
2008-05-10 HKT 02:13
|
Hong Kong Exchanges has set
July the first as the date for
the start of a new scheme,
which will allow foreign firms
to list through the issue of
depository receipts. This is a
major step for the stock
exchange, which is hoping to
attract foreign firms which
may not be allowed to list
overseas. Instead they will be
able to issue what are called
depository receipts, which
will be held by a custodian in
Hong Kong. They can be bought
and sold just like ordinary
shares. The exchange is hoping
to attract business from
emerging markets like Russia,
India, Vietnam and the Middle East.
|
