Service Long March (SLM), a collaboration between Chinese tyre maker Chaoyang Long March and its Pakistani counterparts, has announced plans to list its shares on the Hong Kong Stock Exchange (HKEx). This marks a significant milestone in the company’s journey to expand its global footprint and attract international investment.
Pakistan's Finance Minister, Senator Muhammad Aurangzeb, recently met with SLM leadership in Hong Kong to discuss the company's plans. During the meeting, Aurangzeb commended the company's decision and assured them of full governmental support, underlining the importance of this move for strengthening economic ties and boosting Pakistan’s global visibility in equity markets.
The HKEx has made substantial changes to its listing framework to attract innovative and diverse companies. Its introduction of the "Specialist Technology Companies" listing regime in March 2023 has allowed non-traditional firms to list on the Main Board, even if they lack a standard financial track record. Though it remains unclear if SLM qualifies under this framework, the regulatory shift reflects Hong Kong’s ambition to become a hub for companies from diverse sectors.
For SLM, a listing on HKEx offers several advantages:
The listing details, including the offering size and timeline, are yet to be disclosed. Industry analysts and investors are keeping a close eye on developments, given the strategic significance of this move. SLM's entry into the Hong Kong financial market could serve as a precedent for other Pakistan-China collaborations aiming to tap into international capital markets.
From breaking news to forward-thinking industry trends, our subscriber section keeps you informed, engaged, and ahead of the competition.
