Uniqlo operator says planning Hong Kong listing in China drive
TOKYO (AFP) - The operator of Japanese cheap-chic clothing chain Uniqlo said on Monday it was planning a secondary share listing in Hong Kong, as the company expands its brand across Asia and beyond.
Fast Retailing said that it was on track to issue depositary receipts on the southern Chinese city's bourse on March 5, pending approval from the exchange.
Depositary receipts are often used by firms to let investors trade their shares on a foreign exchange.
Investors would be able to buy and sell Fast Retailing stock in Hong Kong dollars, instead of trading the yen-denominated shares in the Japanese capital.