Asia-focused bank Standard Chartered will seek to list shares in Shanghai as soon as regulations concerning the exchange's international board become clear, a senior executive said. Other than also listing in India, the bank had no other fundraising plans before the end of 2010, Standard Chartered's Asia CEO Jaspal Bindra told reporters at a briefing in Hong Kong on March 05.
The bank, which is already listed in Hong Kong and London, had said previously that it would look into alternative listing options. The company said this week that it planned to list in Mumbai in the first half of this year to raise $500-750 million.
Beijing has said it will encourage foreign companies to offer shares in China and is in the process of changing regulations to allow them to do so. Already, a number of Hong Kong-listed companies with operations in China - including HSBC, Bank of East Asia, China Mobile and Lenovo - have said they will seek a listing.