Exclusive: China's COSCO Shipping considers London listing - sources 9:59am EST [Reuters]
COSCO SHP HLDG UNSP/ADR (CICOY)
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Source: Reuters
Exclusive: China's COSCO Shipping considers London listing - sources | Reuters 5 Min Read LONDON (Reuters) - China’s largest shipping group, COSCO Shipping, is considering raising capital for the first time on the London Stock Exchange through a new initiative with Shanghai’s bourse, two finance sources familiar with the matter said. The Shanghai-London Stock Connect will enable Chinese companies to raise fresh money on the LSE through issuing global depository receipts (GDR), which could boost momentum amid concerns that Brexit could dent the City of London’s leading position in financial markets. The LSE is hoping to get a boost from China as the world’s fastest growing capital market. The sources, who declined to identified citing sensitivity, said COSCO Shipping Holdings Co, which is Shanghai and Hong Kong listed, was examining the possibility of issuing GDRs in London. No decision had been taken yet, partly as it would also require Chinese regulatory approval. “Any capital raisin
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