Huatai Securities gets green light for GDR issue on London bourse

Chinese brokerage expects to raise up to $2.02b from the issuance

The long-awaited Shanghai-London trading program between the Shanghai and London stock exchanges is taking a solid step forward with the first Chinese company obtaining approval from the UK authorities to issue global depository receipts at the London bourse.

Nanjing-headquartered Huatai Securities released an announcement on its official website on Tuesday that it has obtained approval from the Financial Conduct Authority of the United Kingdom regarding the prospectus for the issuance of global depository receipts on the London Stock Exchange.