Global floats coming soon

The much-anticipated launch of the Shanghai exchange's international board may still have to wait until June 2010, despite a foreign media report stating HSBC Holdings Plc may be floated on the local bourse as early as March next year.

Sources close to the regulatory authority and investment banks downplayed the rumors yesterday.

According to the London-based Observer, HSBC is seeking to raise some 5 billion pounds from the Shanghai listing and appointed China CITIC Securities, China International Capital Corp as the advisors for the offering, the newspaper reported yesterday. HSBC declined to comment.