Rearguard action
Article Abstract:
Backdoor listings are becoming increasingly common on the Stock Exchange of Hongkong. In these transactions investors obtain a listing by buying small publicly quoted companies. Backdoor listings, which are especially useful for new investors such mainland Chinese who want to avoid public offerings while gaining access to the market, helped make the exchange's Apr 1993 turnover double that of Apr 1992. However, exchange officials and the Hongkong Securities and Futures Commission on May 11, 1993 cautioned investors on the drawbacks of backdoor listings such as variations in premiums.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Hot issues
Article Abstract:
Increasing numbers of mainland Chinese companies are obtaining backdoor listings on the Hongkong stock exchange. These arrangements allow the companies to secure entry into the market by buying smaller firms whose stock is already traded in Hongkong. Backdoor traders attract attention because they often include the richest Chinese companies and because the reasons for entering into these arrangements are sometimes mysterious. Buyers may often plan to earn a profit by eventually selling the small firm.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Living dangerously: HongKong Bank is mired in an Indonesian nightmare
Article Abstract:
Hongkong & Shanghai Banking Corp's Jakarta branch is the latest foreign bank to run afoul of Indonesia's police, further fueling distrust of the legal system there when it comes to international trade and finance. HSBC was bilked of $34 million through fraud by criminals posing as other overseas banks, and the police want to impound $7.7 million as evidence. A US bank that tried to redeem what it insists is an authentic certificate of deposit had it seized by police who claim it is a fake.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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