More MNCs show interest in new board
By Wang Yanlin |
October 31, 2011, Monday
|
Print Edition
Print Edition
Allianz SE and WPP yesterday joined other multinational corporations to declare keen interest in listing on the planned international board in Shanghai.
"We look forward to a board based broadly on international standards with some applicable local modifications," said Michael Diekmann, chairman of the board of management at Allianz, at the annual meeting of the International Business Leaders' Advisory Council in Shanghai.
"Also, the funds raised from the board should be transferable. If such steps are taken, we are highly interested in a listing."
Martin Sorrell, chief executive officer of WPP, also expressed a strong interest to participate in the new board.
Earlier reports said that foreign investors may not need to wait long for the launch of the international board.
Fang Xinghai, head of Shanghai's Financial Services Office, said in September that the board is likely to be unveiled this year.
"The time is ripe for Shanghai to launch its much-anticipated international board," Fang said. "It will become a good platform for foreign firms now struggling amid financial difficulties to use the money raised, either back home or in the Chinese mainland market."
Coca-Cola, HSBC, General Electric Co, Unilever Plc and Volkswagen AG have all expressed interest to list on the new board, earlier media reports said.
"We look forward to a board based broadly on international standards with some applicable local modifications," said Michael Diekmann, chairman of the board of management at Allianz, at the annual meeting of the International Business Leaders' Advisory Council in Shanghai.
"Also, the funds raised from the board should be transferable. If such steps are taken, we are highly interested in a listing."
Martin Sorrell, chief executive officer of WPP, also expressed a strong interest to participate in the new board.
Earlier reports said that foreign investors may not need to wait long for the launch of the international board.
Fang Xinghai, head of Shanghai's Financial Services Office, said in September that the board is likely to be unveiled this year.
"The time is ripe for Shanghai to launch its much-anticipated international board," Fang said. "It will become a good platform for foreign firms now struggling amid financial difficulties to use the money raised, either back home or in the Chinese mainland market."
Coca-Cola, HSBC, General Electric Co, Unilever Plc and Volkswagen AG have all expressed interest to list on the new board, earlier media reports said.
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