canadian goose jacket China’s IPO hopefuls look to London

Canada Goose Parka Interest in listing in London expected to grow

By Kylie MacLellan

Canada Goose sale LONDON, March 14 (Reuters) Frustrated by a long wait to list Canada Goose Coats On Sale at home, and enticed by the canada goose uk black friday chance to boost their reputations abroad, Chinese firms are turning to Canada Goose online London as the place to raise capital.

canada goose black friday sale But those looking to float in Britain will need to prove their corporate governance is up to scratch if they are to win over investors scarred by past scandals involving Chinese companies in the UK and North America.

Chinese companies accounted for a third of all global initial public offering canada goose coats on sale volumes in 2011, raising a total of $54.2 billion, according to Thomson Reuters data.

buy canada goose jacket cheap The vast proportion of this was raised on Chinese exchanges, but a Canada Goose sale lengthy backlog there and specialist knowledge of particular sectors in London is drawing people towards the canada goose uk shop British capital, where investors are still wary after the last flurry of Chinese IPOs proved disappointing.

still want exposure to China but they were burnt a few years ago, uk canada goose said one investment banker.

Canada Goose Outlet are plenty of companies that could canada goose black friday sale get a London listing done, but they have to be really, really focusing on the governance as if you talk to any UK canada goose coats investor there Canada Goose Parka will be a deep concerns about governance levels. there is a lasting suspicion you don necessarily get the full picture.

canada goose deals Lottery operator Betex delisted from London Alternative uk canada goose outlet Investment Market (AIM) in 2007, just 19 months after its 12.5 million pound canada goose ($19.7 million) IPO.

Others who ran into trouble include mobile phone handset maker ZTC Telecoms, whose chief executive and majority shareholder disappeared in 2008 after using shares in the buy canada goose jacket company as collateral for a loan. Under new leadership and a new name, the company was readmitted to AIM six months later with the intention of completing a reverse takeover, but its listing was cancelled in late 2010 after it failed to do so.

A Canada Goose Outlet spate of scandals involving Chinese companies in North America last year is also fresh in the market mind. Shares in Nasdaq listed China MediaExpress Holdings, which provides bus advertising, plummeted after fraud accusations. Trading in the company has been halted since March last year.

canada goose clearance sale GETTING GOVERNANCE RIGHT Getting investors to take a punt will require convincing them that the next wave of companies are ready to cope with the rigours of a London listing, including regular communication with investors, and that they have the right structures in place in terms of board composition and financial reporting.

Canada Goose Jackets Chinese sportswear brand Naibu and mining services group Rare Earths Global (REG) are both currently marketing listings on AIM.

For REG, canada goose uk outlet whose chief executive Simon Ong said they had chosen London over alternatives such as Hong Kong because of the city abundance of mining specialists, the focus on corporate governance has been central.

The company, which is hoping to raise $50 million to expand its operations in China, has appointed three non executive directors and plans to appoint a further UK based director with AIM experience following its listing.

canada goose store It will also set up audit and remuneration committees, canada goose factory sale and adopt some aspects of the UK Takeover Code, despite not having to be subject to it as an overseas company.

Naibu has taken a similar approach, appointing three British non executives, including Giles Elliot who previously worked with cheap canada goose uk asset manager Schroders in Asia and David Thomas, who has experience of Chinese companies on AIM, its spokesman said. But the experience of high profile failures like Betex canada goose clearance and ZTC has dampened investor appetite.

canada goose it needs is a couple of really good solid Chinese businesses to demonstrate good corporate governance, transparency and build a canadian goose jacket track record for delivering results with investors, buy canada goose jacket cheap said Webster, a former manager of the AIM canada goose clearance sale regulation team at the London Stock Exchange (LSE).

buy canada goose jacket Interest has been increasing, said Webster, particularly from retailers and manufacturers as Hong Kong and other Asian markets are already saturated with firms in these sectors.

The suitability of AIM, half of whose 1,122 companies Canada Goose Online each have a market capitalisation of less than canada goose store 25 million pounds, for high growth companies and the opportunity to boost their international profile are also important drivers.

cheap Canada Goose For Naibu, which plans to raise up to Canada Goose Jackets 50 million pounds to build new factories, being able to list quickly enough to exploit current growth opportunities in China was vital.

canada goose clearance There is a long queue of companies waiting to IPO in Shanghai, with the Chinese government keeping tight control over the number of companies that can list. At the moment, capital markets lawyers say the backlog stands at around three years.

canada goose coats on sale That canada goose femme pas cher puts the LSE, which has a Beijing office, in a good position to attract those frustrated with the domestic market.

The growing presence of Chinese investment banks in London China International Capital Corporation (CICC) became the LSE first Chinese member cheap Canada Goose firm in May last year is also likely to help boost the flow to London.

Canada Goose online these banks expand their London capabilities and staff numbers, it is likely that they will want to bring more Chinese companies to market in London, said Tracey Pierce, director of Equity Primary Markets at the LSE.