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
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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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