PARIS: The largest Exchange in eurozone Euronext announced Monday that it has signed a Memorandum of Understanding (MOU) with Haitong Bank, which was Banco Espirito Santo de Investimento before it has been acquired by the Chinese financial company, Hai Tong securities on sept. 7, 2015.
Euronext said in a press release that the objective of this MOU, signed by Haitong and Euronext, is to improve the process for Chinese investors or Chinese investment firms to gain access to Euronext markets and products with a view to improving entry into European capital markets.
According to Euronext, the two companies will work together to introduce RMB denominated fixed income securities, launch innovative listings products in acceleration of the RMB internationalization process and explore ways to cooperate in promoting Chinese floatations on Euronext Markets (IPOs and dual listing). Furthermore, Haitong will endeavor to produce research on companies listed on Euronext markets.
Luis Laginha, CEO of Euronext Lisbon, said: “This MOU will provide our clients with opportunities to create new products in the increasingly important RMB currency, and we look forward to developing a closer partnership with Haitong to enhance Chinese community access to European capital markets.”
Jose Maria Ricciardi, CEO of Haitong Bank, said: “Chinese Capital Markets and their dynamism are a key component of the very interesting potential for cross-border financing and investment opportunities. I strongly believe that this MOU between Haitong Bank and Euronext will reinforce our mutual co-operation in meeting the important challenges and opportunities for our clients.”
Euronext has already raised RMB 6.5 billion (1.02 billion U.S. dollars) on its markets in 2015, more than doubling the RMB 2.5 billion raised in 2014.
