Chinese quartet may debut on London market

Four firms in new materials, culture, pharmaceuticals eye share sales in UK

Cobalt new materials manufacturer Zhejiang Huayou Cobalt Co Ltd, cultural company Shanghai Oriental Pearl Group, Kangmei Pharmaceutical Co Ltd and Tasly Pharmaceutical Group are examining the possibility of selling shares in London, potentially to raise money under the long-awaited Shanghai-London Stock Connect Program, according to sources with knowledge of the matter.

The companies, which expressed their interest in participating in the stock exchange program, have discussed with related parties possible frameworks to raise funds in the UK through global depositary receipts, according to sources with knowledge of the matter.