Gas wars…Russia looks East: Gazprom preparing to list on Hong Kong stock exchange

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Russia’s Gazprom preparing to list on Hong Kong stock exchange

The company has already listed on the Singapore stock exchange, in a first step towards shifting to the east

Russia’s energy giant Gazprom expects to become one of the first Russian companies to place shares on the Hong Kong stock exchange, Gazprom’s financial director said on Thursday.

In the interview with Rossiya-24 TV channel, Andrey Kruglov said that in the near future Russia and China could sign an agreement that would allow lifting all the restrictions for Russian companies to enter China’s stock exchange.

The company has already listed on the Singapore stock exchange, in a first step towards shifting to the east, which contributed to an uninterrupted trade in Gazprom’s shares – when stock exchanges close in Europe, the work continues in Asia, Kruglov said.

In early February, China’s Dagong Global rating agency gave Gazprom the highest AAA credit rating for both local and foreign currencies, with a long-term stable outlook. This helped Gazprom get access to expanded listing on Asian stock exchanges.

China’s Dagong was established in 1994. Its ratings are recognized by the Chinese government. The agency describes itself as a force that contributes towards the establishment of a new international system of credit ratings.

Source: Itar-Tass

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