HSBC seeks Shanghai listing

HSBC is ready to list on the Shanghai stock exchange.

CEO Michael Geoghegan says proceeds from the listing will be used by the London-based bank to expand in China, according to Bloomberg. The timing of the listing depends on regulatory approval, he says. Geoghegan relocated to Hong Kong  last month having previously been London-based. The bank would use a Shanghai listing to further increase its focus on Asia. It was claimed in August that the bank, founded in Hong Kong and Shanghai in 1865, hired China International Capital Corp and Citic Securities Co to advise on an offering of more than $5bn. "Obviously we are interested...