StanChart to seek Shanghai listing

Lender capitalises on Beijing's encouragement for foreign firms to offer shares after regulations become clear.

Standard Chartered Plc will seek to list its shares in Shanghai as soon as the regulations concerning the exchange's international board become clear, a senior executive said.

Jaspal Bindra, Standard Chartered's Asia CEO, was speaking to reporters at a news conference in Hong Kong on Friday.

The bank, which is already listed in Hong Kong and London, had said previously that it would look into alternative listing options. The company said this week that it plans to list in Mumbai in the first half of this year.

Beijing has said it will encourage foreign companies to offer shares in China and is in the process of changing the rules to allow them to do so.

View the full story in Reuters.