Shanghai-London Stock Connect Goes Live With Huatai Securities Debut
June 21, 2019 | BY
Marilyn RomeroThe Shanghai-London Stock Connect program has finally started, with Chinese brokerage Huatai Securities raising $1.5 billion in its debut listing.
On June 17, the long-awaited Shanghai-London Stock Connect program was officially launched. As a result, certain companies listed on the Shanghai Stock Exchange and those on the London Stock Exchange are now allowed to issue depositary receipts for trading on the other bourse.
The program is a joint initiative of the two exchanges, and will enable Shanghai-listed companies to raise new funds via London's stock market. Conversely, U.K.-listed companies can also broaden their investor base by selling to investors in Shanghai.
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