COSCO Shipping, the third largest carrier in the world, is reportedly considering the possibility of listing on the London Stock Exchange (LSE), according to Reuters.
The Chinese-state container line is reportedly looking to raise capital and bolster connections with foreign investors.
If it goes ahead, COSCO could be included in the Shanghai-London Stock Connect, a new initiative launched between the LSE and Shanghai Stock Exchange.
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The purpose of the Shanghai-London Stock Connect will help Chinese companies to raise capital on the LSE through issuing global depository receipts (GDR).
Reuters, which cites two anonymous sources, says no decision has yet been taken on the potential listing but that “any capital raising would be large to make it worthwhile.”
A second source suggests that London is COSCO Shipping’s preferred choice, as opposed to New York, which the carrier is reluctant to consider due to the US-China trade war.
The news agency goes onto say that COSCO Shipping held meetings with Britain’s shipping minister Nusrat Ghani as part of a wider effort to boost trade ties between the UK and China.
Read the original Reuters article here