HSBC Holdings (NYSE: HBC; 0005.HK) Asia-Pacific chairman Zheng Haiquan said the bank is in talks with China's regulators about an A-share offering, reports Securities Journal. Zheng said that the listing would be in the form of A-shares issued by the Hong Kong-listed HSBC Holdings. Meanwhile, a Hang Seng Bank (0011.HK) insider revealed Hang Sang Bank intends to list on the Shanghai Stock Exchange as well, according to the report. The report also said that Reuters Group (Nasdaq: RTRSY) CEO Tom Glocer disclosed during a recent talk with Fu Ying, Chinese ambassador to the United Kingdom, that the group looks forward to a long-term investment and eventual listing in China, said the report.
On December 13, the third Sino-US Strategic Economic Dialogue (SED) issued a statement saying qualified foreign-invested companies, including banks, will be allowed by the Chinese government to issue Yuan-denominated shares and bonds.
While foreign banks are preparing to issue A-shares, China's largest film maker and publisher China Film Group Corporation (CFGC) also plans to list on the Shanghai Stock Exchange, but no details have been set yet, reports Securities Journal quoting an insider at the company. CFGC planned to list on the Hong Kong Exchange (HKEx) in 2005, but the proposal was postponed by policies to limit foreign investment in mainland's media and entertainment industry, said the report.