June 14, 2019 ICBC Luxembourg admitted to the stock market
The Luxembourg branch of the Chinese bank ICBC has been approved as a new trading member of the Luxembourg Stock Exchange.
This is the first Chinese bank to include the list of the 25 trading members of the Luxembourg Stock Exchange (LuxSE): the Luxembourg Stock Exchange last week accepted ICBC Luxembourg as trading member, with immediate effect. The Chinese bank can now carry out transactions on the Luxembourg Stock Exchange.
"With our listing activity, the Luxembourg Stock Exchange has already become a gateway to China and a benchmark for listed securities denominated in renminbi. This initiative will help bridge the gap between Chinese issuers and international investors, "said Robert Scharfe, CEO of LuxSE, in a statement released on May 21.
Easy transactions
LuxSE specifies that ICBC Luxembourg will now be able to provide liquidity for renminbi-denominated securities, and facilitate transactions on dollar and euro-denominated bonds issued by companies and the Chinese government.
"This milestone is a milestone in our ambition to offer a range of Chinese bond products to the broader European investment community," said Chen Fei, CEO of ICBC Luxembourg.
ICBC created its Luxembourg branch in 1999.
