Stocks News
- European stock exchange wooes Chinese firms
Date: 10-Jan-2007 Sources: (Xinhua Online)
A senior official from Euronext, a major European stock exchange, on Tuesday invited Chinese firms to list with it.
Erik Wenngren, Euronext's director of international listings, said Euronext views China as its key market, and has set up a special group to attract Chinese firms to list on its main board Eurolist or on the Alternext board for medium-sized and small firms.
Eurolist, which combines the markets of Amsterdam, Brussels, Lisbon and Paris, provides international companies with access to the European Union, the world's largest economic bloc ahead of both the United States and Japan in terms of gross domestic product, said Wenngren at a seminar in Beijing on the listing of Chinese firms in Europe.
He said Euronext, one of the most active capital raising markets in the world, ranked first for main board initial public offerings in Europe in 2005.
A total of 1,300 companies had listed on Euronext by the end of 2006, and nearly one quarter of them are from outside Europe.
Euronext plans to merge with the New York Stock Exchange later this year -- stockholders of the two exchanges and their regulatory authorities have voiced support for the plan.
The European Union is the largest trading bloc in the world, accounting for 20 percent of worldwide trade, with 457 million consumers and one of the world's largest pools of investment capital, according to Euronext.
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