HONG KONG (AFP) - French banking giant BNP Paribas plans to list its shares on the stock exchange of Hong Kong, a report said Monday, in a bid that is likely to increase its profile in Asia, especially China.
The lender requested a grant from the Chinese city of the South, with a list provided as soon as the month of July, the Chinese-language Ming Pao Daily News reported, citing an anonymous source.
A spokesman for BNP Paribas in Hong Kong, said that she could not immediately comment on the report, contacted by AFP.
The banking group does not plan to raise new funds in a list by introduction, according to the newspaper.
Unlike an initial public offer, a list by introduction simply to adds another commercial place to boost the profile of existing shares of the company and allows investors to buy or sell shares in their local currency.
In December, mining giant Brazilian Vale made its commercial debut in Hong Kong by listing its shares in the form of common share depositary receipts, but he did not raise new funds. The minor was already listed in the Brazil, New York and Paris.
Firms seek more to Hong Kong as a gateway to the Chinese market, with the giant Russian mining UC Rusal awareness $ 2.2 billion in Hong Kong last year.
Last may, group cosmetics L'Occitane has become the first French to list in Hong Kong company, after an initial offers public raised $ 704 million to fund an aggressive expansion in China, the Japan and emerging markets.
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