During the meeting a detailed discussion took place about what is involved when a company seeks a listing on Euronext’s markets. This included the subject of accounting standards, which is an important consideration for Chinese companies seeking a European IPO. Euronext’s listing rules enable Chinese enterprises, which come to market through private placement to use Chinese GAAP, with IFRS reconciliation tables when they list on Alternext.
“Euronext was very pleased and honoured to meet Mr. Wang to explore avenues of cooperation with China, the world’s fastest growing economy,” said Hugh Freedberg.
“Euronext, Europe’s largest pool of liquidity, offers a real opportunity for Chinese companies seeking to raise capital abroad in one of the world’s major currencies, the euro. China has made continuous progress with developing its accounting standards and helping its companies to seek further growth through overseas listings,” added Martine Charbonnier.
Mr Wang Jun said: “The Ministry of Finance and the CASC were extremely pleased to discuss and to explore with Euronext a new avenue of overseas listing for Chinese companies. The MoF would expect that Euronext will endeavour to strengthen exchanges with China and to maintain high-level co-operation.”
Euronext is the leading European exchange by number and value of transactions in shares traded on an electronic order book and also takes first place for new listings in the euro zone. During last year a total amount of €21.4 billion was raised by the 142 listings on Euronext’s markets. As at the end of December 2006, the total market capitalisation of the 1,285 companies listed on Euronext markets, including 258 companies from outside the Euronext zone, was €2,815 billion.
Looking ahead, Euronext will build on its central place in the euro zone, its dynamic markets and its international listing strategy to attract more international investors and foreign companies.
