Three mainland-listed firms, including $23 billion construction equipment maker Sany Heavy Industry , said they plan to sell shares in Zurich. The move fits with Beijing’s push to encourage more businesses from the People’s Republic to tap investors in Europe.
shares in Zurich. The move fits with Beijing’s push to encourage more businesses from the People’s Republic to tap investors in Europe.
The announcements come four years after the launch of the so-called London-Shanghai Connect, a fundraising channel which was extended to Frankfurt and Zurich in December. Broker Huatai SecuritiesSwiss money will come in handy but executives should not expect much investor interest: Two years on and triple-listed Huatai sees less than 1% of its daily trading in London. Still, the headlines might briefly distract from the travails of Chinese firms in New York, where U.S.
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