Four Chinese companies ring the cowbell on SIX Swiss Exchange, marking landmark China-Zurich trading link
- Four Chinese firms debut on SIX Swiss Exchange in the first test of GDRs to raise funds and trade in Zurich
- Chinese GDRs are convertible to the underlying A shares after 120-day lock-up
Four Chinese companies had a mixed debut on the SIX Swiss Exchange on Thursday, marking the first test of investor interest in Chinese global depositary receipts (GDR) launched by the Zurich-based bourse.
The Swiss exchange is providing a new offshore source of trading liquidity for stocks listed on the Shanghai and Shenzhen bourses, following a new stock exchange scheme agreed between China and Switzerland in 2019. It follows the Stock Connect scheme established in Hong Kong in 2014.
“Today we are celebrating a historic milestone in the excellent relationship that unites Chinese and Swiss financial markets. In the current, somewhat challenging market environment, both of our financial markets are demonstrating reliability and resilience,” said Thomas Zeeb, global head of exchanges at the SIX Swiss Exchange. “Today, I’m very honoured to see not one, but four new Chinese companies joining SIX Swiss Exchange.”
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