HSBC confident on Shanghai listing

SHANGHAI - HSBC Holdings Plc, Europe's biggest bank by market value, expects to raise "a significant amount" of funds through a proposed listing on the planned international board in Shanghai, Chief Executive Officer Michael Geoghegan said on Wednesday.

"As the rules haven't been published, it will be very difficult to say how much we will raise from China," said Geoghegan, adding that he hopes company shares will be easily tradable in Shanghai.

The lender said it would use the proceeds from the initial public offering (IPO) in China to facilitate its sustainable growth in the "strategically important" market.