Tag: Depositary receipts

Mongolia’s Erdenes TT snubs Hong Kong for IPO

HONG KONG (Dow Jones Investment Banker) – News last week that Mongolia’s Erdenes Tavan Tolgoi, which owns one of the world’s largest coking coal deposits, would drop – for now – Hong Kong as one of the listing locations for its long-awaited IPO came as a surprise to market observers. The reasons probably include a disappointing performance for relevant offerings in Hong Kong, disclosure issues, as well as a comparatively weaker depositary receipt platform. read

, , , , , Depositary receipts, Dual listings, Hong Kong... +3 more

Coach’s listing in Hong Kong a PR stunt?

US handbags and accessories house Coach Inc. is the latest in a long list of fashion and consumer groups to seek a listing in Hong Kong. As structured, however, the proposed transaction is likely to do little beyond generating press coverage for the brand, but perhaps that’s what it’s aimed at? read

, , , , Depositary receipts, Hong Kong, Listing by introduction... +2 more

Details of ADR contributions now published

For years, depositary banks such as The Bank of New York Mellon, Citi, JP Morgan, Deutsche Bank or HSBC have tried to keep secret details of the subsidies they pay to issuers to entice them to sign up for sponsored ADR programmes. Disclosure rules introduced by the SEC in 2009 have now revealed details of such payments for the first time. read

Why multiple share listings?

HONG KONG (Dow Jones Investment Banker) – Logically, there’s reason to offer around-the-clock trading on securities: Investors can trade from their home turf some of their large holdings. But Vale S.A.’s Hong Kong listing shows the value of such an option is questionable in practice.


, , , , , , , , , Brazil, De-listing, Depositary receipts... +7 more

Vale lists common and preferred HDRs

Following a week of roadshows across Asia’s main financial centres, Brazil’s Vale, the second largest diversified mining company in the world by market capitalization, listed on 8 December 2010 both common depositary receipts and Class A preferred depositary receipts on the Main Board of the Stock Exchange of Hong Kong, by way of introduction.Vale is the largest non-financial Western company to be listed in Hong Kong and was also the first-ever corporate to list Hong Kong Depositary Receipts (HDRs). read

, , , , Brazil, Depositary receipts, Hong Kong... +2 more