EXCLUSIVE: Hong Kong Expected to Have 1st Japanese Listing

Tokyo, June 28 (Jiji Press)--The Hong Kong stock exchange is
expected to have the first Japanese company listing soon, its chief, Charles
Li, told Jiji Press in a recent interview.
"Many (Japanese companies) are expressing interest. One or two are
very close" to being listed, said Li, chief executive of Hong Kong Exchanges
and Clearing Ltd. But he did not disclose specific company names or the
timing of the listing.
If Japanese companies with large operations in China "feel the
Japanese investors do not understand their China operations that well, do
not give them the right level of evaluation that they believe they deserve,"
they should "consider Hong Kong" Li said, noting investors in Hong Kong
understand China better.
The Hong Kong exchange will encourage the listing of Japanese
companies by offering a transparent investment environment, Li said.
There have been listings of Japanese joint ventures in the Hong
Kong exchange, but the exchange still has not seen a company based in Japan
go public, according to Li.
Proceeds from initial public offerings totaled 32 billion dollars
in Hong Kong in 2009, surpassing the New York Stock Exchange as the world's
largest venue for IPOs.
The Tokyo Stock Exchange can be a partner to the Hong Kong
exchange, Li said.
Li said he and TSE President Atsushi Saito have been discussing
areas in which their exchanges can collaborate, adding that there is a
possibility that they will announce some kind of a plan in the future.

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