The active role of China Prospective Stocks in listing in Hong Kong has already emerged.
Recently, the news that many of the stars listed on the US stock market are planning to go to Hong Kong for secondary listing.
According to Reuters, NetEase plans to list on the Hong Kong Stock Exchange on June 11, and JD.com will also be listed a week later. The two transactions can raise a total of US $ 5 billion, or it will be the largest transaction in the Hong Kong equity capital market this year. Netease and JD.com declined to comment.
Previously, it was reported that Baidu and Ctrip are advancing the secondary listing process in Hong Kong. At that time, Baidu Chairman Li Yanhong said in an interview with “China Daily”, “We are constantly discussing what we can do internally, including secondary listings in Hong Kong and other places.
Although the above rumors have not been officially confirmed publicly, there is no doubt that the Hong Kong Stock Exchange is welcoming the return of Chinese stocks.
In May of last year, Alibaba ’s second listing in Hong Kong just started. Li Xiaojia, the president of the Hong Kong Stock Exchange, responded positively, welcoming Alibaba ’s return to Hong Kong for the second listing. At the beginning of this year, Li Xiaojia said that after Alibaba came back, everyone clearly realized that there was no reason why China Prospectus should not come back, and the Hong Kong Stock Exchange needed to eliminate the obstacles for companies to return to Hong Kong for listing, and the second listed new economic company It is only a matter of time before it is incorporated into the Hong Kong Stock Connect.
At the same time, the Hong Kong Stock Exchange is taking measures to implement different rights for the same shares, lower the threshold for secondary listing, and improve the efficiency of future IPOs in Hong Kong. These include reforming the T + 5 mechanism for issuing new shares in Hong Kong, reiterating the shortening of IPO settlement cycles, and promoting the full paperlessness of IPOs.
CICC said that after Alibaba completes the secondary listing of Hong Kong stocks, the return of Chinese stocks to Hong Kong stocks is a new trend that deserves attention. There may be about 20 Chinese stocks initially eligible. Later, if these Chinese stocks gradually return to Hong Kong stocks, it will help activate Hong Kong stocks and consolidate Hong Kong’s leading position in the global equity financing market. If combined with the potential upgrade of the Shanghai-Shenzhen-Hong Kong Stock Connect mechanism in the future and the adjustment of the Hang Seng Series Index Rules, it may further attract mainland funds to go south and gradually improve the market ecology of Hong Kong stocks and A shares.
This positive effect has already emerged through investment bank statements. In May, the Hong Kong Stock Exchange was awarded the “overweight” rating by Xiaomo and Damo.
In a report released by Morgan Stanley, the bank expects that the Hong Kong Stock Exchange will benefit from the return of the Chinese stock market and the financial development of the Guangdong-Hong Kong-Macao Greater Bay Area, raising the target price of the Hong Kong Stock Exchange by 14.8% to 310 yuan. “Overweight” rating. Morgan Stanley said that if all qualified ADRs will be listed on the Hong Kong Stock Exchange, the income of the Hong Kong Stock Exchange can be doubled. Among them, the average daily turnover can increase by about 40 billion yuan, and promote the income contribution of derivatives, recycling charging listing fees.
The Hong Kong Stock Exchange rose nearly 5% today, a record high since March. As of press time, the stock price of the Hong Kong Stock Exchange rose 4.63% to HK $ 271, close to the highest price of HK $ 274.6 so far this year.
We will continue to pay attention to the return of Chinese stocks to Hong Kong.