LSE to launch trading of China firms' GDRs
Move, slated for next year, will kick off partnership between the bourse and its Shanghai counterpart, add sources
Shanghai
THE London Stock Exchange (LSE) will launch trading of global depositary receipts (GDRs) of Chinese companies next year, kicking off a partnership between the bourse and its Shanghai counterpart, sources with knowledge of the matter said.
GDRs are bank-issued certificates representing ownership of a set number of company shares that can be listed and traded independently from the underlying stocks. They are often used by emerging market companies to raise capital overseas.
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