London-Shanghai Stock Connect goes live as Huatai trades up
Shares in Huatai Securities, the Chinese brokerage, rose as much as 12% on Monday morning after the company’s global depositary receipts began trading in London via the London-Shanghai Stock Connect programme.
By the late afternoon, the GDRs were trading at $21.34, up 4% from the $20.50 offer price.
The success of the GDR issue, the first under the scheme, is likely to tempt other Chinese issuers to use the Stock Connect programme to raise funds, according to market ...Please take a trial or subscribe to access this content.
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