Member Info for ripley94

Good to see some info on this one , like JQW recommended to me by SVS securitys.
Looks like another complete loss ?
Saw this about China investments .
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China Pacific Insurance to press on with London listing under connect scheme
16:32
By Carolyn Cohn and Oliver Hirt

LONDON/ZURICH, June 2 (Reuters) - China Pacific Insurance
<601601.SS> is pressing ahead with a London listing under a
stock link scheme between Britain and China, it said on Tuesday,
defying the market turmoil wrought by COVID-19.

The Chinese insurer, which is seeking to raise cash to
support its overseas expansion, said it would issue 125.7
million units of global depositary receipts (GDR) in London with
Swiss Re as its cornerstone investor.

Swiss Re will take a GDR allotment of up to 1.5% of China
Pacific's total number of ordinary shares, with a lock-up period
of three years.

The Shanghai-London Stock Connect scheme, which allows
Chinese companies to add a secondary GDR listing in Britain, was
first announced in 2018. It was meant to herald a flurry of
Chinese listings in London but so far only one has materialised,
the Huatai Securities brokerage deal last year. [nL8N23O1LL]

SDIC, which was set to become the second Chinese company to
make use of the scheme, called off its London listing in
December, blaming market conditions.

The U-turn prompted speculation among bankers and analysts
that China Pacific Insurance could follow suit due to the market
turbulence caused by the coronavirus pandemic. [nL8N2D10HM]

But China wants to revive the link scheme as a way to
strengthen overseas ties and fund its post-lockdown recovery.

Beside China Pacific Insurance, energy firms SDIC Power
<600886.SS> and China Yangtze Power <600900.SS> have also
received the go-ahead from Beijing to list GDRs in London,
sources have said. [nL8N2D10HM]

If successful, these listings will give a boost to the
London Stock Exchange where share sales have come to a halt due
to the business paralysis caused by the spread of the virus.

European listings raised $918 million in the first quarter
of 2020, according to Refinitiv data, more than three times the
$301.2 million in the year earlier period. But activity halted
abruptly in March and only partly resumed in May with coffee
maker JDE Peet making its market debut in Amsterdam.
[nL8N2DB0RO]

(Reporting by Carolyn Cohn in London and Oliver Hirt in Zurich;
Editing by Pamela Barbaglia and Pravin Char)
((carolyn.cohn@thomsonreuters.com; 44 207 542 6320; Reuters
Messaging: carolyn.cohn.thomsonreuters.com@reuters.net))

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