China Firms Seek Frankfurt Listings to Revive Europe Connection
- JinkoSolar, Sungrow listings could pave way for more issuers
- Move comes after Beijing tightened rules around stock link
The trading floor at the Frankfurt Stock Exchange.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Chinese companies are exploring Germany as a fundraising venue, in a move that could reinvigorate the European market for their global depositary receipts.
Two companies are getting ready to test the waters. Renewable-energy firm Sungrow Power Supply Co. is planning to seek as much 4.88 billion yuan ($680 million) in Frankfurt through the sale of GDRs, it said last month. Solar-panel maker JinkoSolar Holding Co. announced an offering of as much as 4.5 billion yuan of the receipts in a Shanghai-listed unit.