Central Asia eyes HK for fundraising
As Chief Executive John Lee prepares to lead a delegation to Central Asia in early June, a key figure in the city’s financial sector believes the region is a key market to watch.
Hong Kong Exchanges & Clearing (HKEX) Chief Executive Officer Bonnie Chan will join the delegation which will visit Kazakhstan and Uzbekistan, aiming to expand Hong Kong’s economic and trade ties with Central Asia.
She remarked that last year’s dual listing of a mining company in Hong Kong and Kazakhstan shows there is room for deeper co-operation between the two markets.
Ms Chan added that she hopes the visit will create opportunities to connect with more local enterprises, and believes more Central Asian companies will look to Hong Kong as a fundraising platform.
She said HKEX has noted growing interest from Central Asian companies in tapping Hong Kong for fundraising beyond the equities market.
“There is actually a strong indication of interest in terms of these Central Asian companies issuing bonds.
“Dim sum bonds, I think, have been increasingly popular, so I think this coincides with Hong Kong Exchanges & Clearing’s strategy to diversify beyond equities.”
Meanwhile, Managing Director & Head of Global Issuer Services at HKEX Johnson Chui said several successful fundraising cases involving Hong Kong last year have helped boost interest from Central Asia.
Mr Chui said a number of Kazakhstani issuers had successfully completed fundraising and listings in Hong Kong through dim sum bonds last year, drawing the attention of stakeholders in Central Asia.
He added that during a recent trip to the region, various entities had expressed interest in learning more about the Hong Kong market and how they could tap it, whether through dim sum bonds or potentially a dual listing.