First Applications Made for Jersey Companies to be Listed on Hong Kong Stock Exchange

Monday, 18 January 2010 15:10

Applications have been made for the first Jersey companies to be listed on the Hong Kong Stock Exchange, ahead of a visit of Jersey finance professionals to Greater China this week.

A delegation including representatives of Jersey Finance and Jersey’s finance industry are due to give presentations in Hong Kong and Shanghai during the visit, which began on 18 January 2010.

Following the approval in October 2009 for Jersey companies to be listed on the Exchange, the presentations will focus on what makes Jersey companies particularly suitable vehicles for listing purposes, recent revisions to Jersey Company Law and the benefits of Jersey for listing purposes over the Caribbean jurisdictions. The finer details of the listing process for Jersey companies will also be examined.

In addition, two Jersey legal professionals will reflect on their experiences of handling recent applications to the Hong Kong Stock Exchange and other major global exchanges.

The first presentation in Hong Kong will take place on Tuesday 19 January 2010 at The China Club, Bank Street, between 12 and 2.15pm, when Jersey Finance’s Zhaoan Li, Head of Greater China Business Development and Rob Kirkby, Technical Director, will be joined by Jersey-based lawyers Alex Ohlsson, Managing Partner, Carey Olsen, and Marc Yates, Partner, Ogier. The second presentation in Shanghai will take place on Thursday 21 January at The Portman Ritz Carlton Shanghai between 4pm and 7pm. Lawrence Fok, Executive Vice President and Head of Issuer Marketing Division of Hong Kong Stock Exchanges and Clearing Ltd, will also speak at the Hong Kong event.

Rob Kirkby said: ‘The approval at the end of last year for the listing of Jersey companies on the Hong Kong Stock Exchange was a significant development, which we are now looking to build on. A number of applications for Jersey companies to be listed on the Exchange are in the process of being made. This significant interest is fantastic news and a positive reflection of the excellent reputation Jersey has gained on the international stage.

‘With Hong Kong already well established globally as a major financial centre and China expected to shortly become the world’s most powerful economy, it is vital that we continue to talk to key advisers, professionals and regulators as Jersey seeks to grow business flows from the Asia Pacific region this year.’