More Chinese companies have abandoned New York and transferred to Zurich to go public

(Beijing Bloomberg) More and more Chinese companies have abandoned New York and instead went to Zurich, Switzerland to launch and go public, because the latter provides greater geopolitical certainty and rich investors.

In the past four months, at least 10 Chinese enterprises have announced the second listing of the Swiss Stock Exchange, including battery manufacturer Guoxuan Hi -Tech and Biotechnology Company Lepu Medical.Jos Dijsselhof, CEO of the Swip Exchange Group, revealed that the first Chinese enterprise is expected to issue shares in Zurich this month and only officially approved by the Swiss Financial Market Supervision Bureau (Finma).

Finma's refusal to comment, but Disierhof believes that if there is no approval in July, it is likely to be approved after the summer vacation.

U.S. -China relations are increasingly tense, and what benefits from Europe is the European capital market.One year ago, IPO financing at US $ 4.4 billion (S $ 6.186 billion), a technology giant, has stated that it will be delisted from the New York Stock Exchange in order to solve China's network security survey.At the same time, the United States will implement a new law that forced foreign companies to open a audit draft from 2024, otherwise it will be delisted.

"Chinese companies are looking for alternatives, not only from the perspective of business, but also from an international relations," Disierhofv said."They know that we are a reputable reliable partner. Three of the five major European companies are listed here, including Robe, Nestlé and Novartis."

In recent months, Switzerland has attracted more attention from Chinese enterprises.The China Securities Regulatory Commission announced in February that "Shanghai -London" will expand, expanded from London to Switzerland and Germany overseas, and expanded from the Shanghai Stock Exchange to the Shenzhen Stock Exchange in China.

Swift Stock Exchange: Neutral and predictable attractiveness to international companies

For the European market because of the Russian and Ukraine War and inflation, the influx of Chinese companies is worth looking forward to.One of the largest construction machinery manufacturers in China, one of the three -one work in March, took the lead in announced that it was planned to be listed in Switzerland.Bloomberg reported in April that battery producer Guo Xuan Hi -Tech is considering raising about 10 billion yuan (S $ 2.092 billion) through the issuance of global deposit vouchers (GDR) in Switzerland.

As for whether the recent turbulence of the European stock market will affect the listing plans, neither Chinese enterprises have been criticized.But Disierhof believes, "The neutrality and predictability of the Swiss country are not part of the European Union or any other alliance, which is very attractive to international companies, because you know what you get, you don’t need to serve politics, you are you, you are youIn a business environment. "

Wang Jingqi, the person in charge of the China Stock Capital Market of Creditver, said in an email that the issuance of GDR usually requires about four to six months, which saves time than subsequent issuance in China;Wide and deep investor foundation.

She said that the Swiss Exchange is particularly attractive to companies in the fields of medical, technology, industry, and renewable energy.