China-Switzerland Stock Connect Gets Off To A Flying Start With Four Chinese Companies Listing Their First GDRs On SIX Swiss Exchange

Today, GEM, Gotion High-tech, Keda Industrial Group and Ningbo Shanshan became the first Chinese companies to list GDRs on SIX Swiss Exchange. The listings are part of the newly launched China-Switzerland Stock Connect program.

Thomas Zeeb, Global Head Exchanges, SIX; Wang Shihting, Chinese Ambassador to Switzerland; Jiang Miao, Vice President, Gem; Steven Cai, Director, Deputy General Manager, Gotion; Roberto Magnani, Director, CEO of ICF & WELKO, Keda; Jiang Zheng, Director, Keda Europe (from left to right)

Since signing the Memoranda of Understanding in 2019, SIX has been working closely with Shanghai and Shenzhen Stock Exchanges to establish a China-Switzerland Stock Connect offering. Today, the first Chinese companies listed their Global Depository Receipts (GDRs) on SIX Swiss Exchange.

In order for Chinese companies to list GDRs in Switzerland, the existing regulatory framework for GDRs was reviewed, amended and entered into force on 25 July 2022. In the separately established trading segment for GDRs, shortened trading hours between 3 p.m. and 5.40 p.m. apply.

Capital raised by the four companies (aggregated placement volume in USD) with their GDRs from investors totals USD 1.6 billion.