Although the Shanghai International board has not launched yet, the global multi-national corporations are preparing for its start. Ernst & Young Managing Partner, Greater China, Listing Service supervisor He Zhaofeng revealed that there were 23 multinational corporations having expressed their intention to list in the Shanghai International board.
According to a list provided by Ernst & Young, these 23 companies include GE, Coca-Cola, Wal-Mart, Unilever, Volkswagen, Standard Chartered Bank, DBS Bank, Procter & Gamble, IBM, Reuters, Prudential, Siemens, Mercedes-Benz, Russian Natural Gas Industry Companies and so on.
He Zhaofeng said that these companies share a common characteristic: most of them have huge market and business in the mainland of China. By listing on the International Board, the multinational corporations are able to use the raised funds to hedge their exchange rate risk of investments in the Mainland.
He Zhaofeng predicted that it might not be likely that the Shanghai International board will be officially launched in the second half of this year, because if it should be launched in the second half year, it will face a series difficulties like accounting standards, company law and cross-border transactions of RMB. But he believed that it would be more likely that Shanghai International Board may be introduced in the first half of 2011.
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