Shanghai- and Shenzhen- listed companies can sell GDRs and
list on SIX as part of the China-Switzerland Stock Connect
scheme.
(Reporting by Li Gu and Brenda Goh; writing by Samuel Shen;
editing by Jason Neely)
(Adds background, detail)
SHANGHAI, March 22 (Reuters) - Swiss exchange SIX Group
said on Wednesday it had received "no negative directions or
guidance" from Chinese exchanges pointing to a pause or hold-up
of approvals for Global Depository Receipts (GDRs) issuance by
Chinese companies.
Bloomberg reported last week that China's securities
regulator was holding up approvals for new GDR issuance by
Chinese companies partly due to concern about arbitrage
activities.
Reuters also reported last week that Chinese battery giant
CATL's plan to raise at least $5 billion in Swiss GDRs had been
delayed due to regulators' concerns over the size of the
offering.
SIX is "in regular contact" with both the Shanghai and
Shenzhen stock exchanges, a spokesperson said in an email on
Wednesday, in response to Reuters questions regarding GDR
issuance.
The SIX comments came after the China Securities Regulatory
Commission (CSRC) on Monday approved plans by two Chinese
companies to sell GDRs and list in Switzerland.
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