Hong Kong Exchanges and Clearing Limited (HKEX) today is pleased to welcome the issuance of Hong Kong’s first listed bond by a non-government issuer offered through HKEX’s Central Clearing and Settlement System (CCASS), made available to both retail and institutional investors. This is the latest step in HKEX’s continuing development of its fixed-income markets.
Agricultural Development Bank of China this week raised RMB2 billion through the issue of a one-year yuan-denominated bond, issued to both retail and institutional investors. The issue to public investors accounted for RMB200 million and was done through HKEX’s CCASS.
Agricultural Development Bank is one of China’s three policy banks. The latest bond issuance is the first to be open for subscription to both retail investors via HKEX, and to professional investors in the Over-the-Counter (OTC) market, following Hong Kong Monetary Authority's Exchange Fund Bills.
HKEX Chief Executive Charles Li said, “This is an exciting development for Hong Kong’s markets. This provides a new type of investment opportunity for retail investors while allowing Agricultural Development Bank of China to diversify its financing base and increase its market visibility.”
“We look forward to warmly welcoming more issuers interested in tapping into Hong Kong’s vibrant retail investor community, and to the further development of our fixed income markets.”
Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.
HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange, in China, in 2018.
HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.