Several Hong Kong blue chips are 'seriously' considering listing on the New York Stock Exchange next year, according to the exchange's vice-president of international listings for Asia-Pacific.
James Shapiro yesterday said the interested blue chips primarily had a global presence, possibly with customers and investors from the United States, or might be planning acquisitions there.
Mr Shapiro, who is based in Tokyo, said he could not reveal the names of the interested parties but it is widely believed Hutchison is a candidate.
Wharf (Holdings) has already announced plans to spin off its cable television and Internet access business into one unit and list it in Hong Kong and the United States, although the Nasdaq market is its likely target.
'I would say several blue chips [from Hong Kong] . . . are seriously considering it [New York],' Mr Shapiro said.
'We're seeing a different seriousness of interest . . . three or four years ago, they had no interest. I think this has been boiling since the economic crisis.' 'Hong Kong and China companies are increasingly looking to New York, particularly the Hong Kong companies.' While some analysts say there is little reason to believe larger blue chips would benefit from heading to New York, Mr Shapiro attributes any desire to move to Wall Street on the globalisation factor.
