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    STAN   GB0004082847

STANDARD CHARTERED PLC

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Standard Chartered seeks brokerage licence in mainland China - Xinhua

10/12/2020 | 12:59am EDT
FILE PHOTO: A logo of Standard Chartered is displayed at its main branch in Hong Kong

SHANGHAI/HONG KONG (Reuters) - The Hong Kong unit of Standard Charteredhas applied for a brokerage licence in mainland China, the state-backed Xinhua News Agency reported on Monday.

The China Securities Regulatory Commission (CSRC), the country's top securities watchdog, had accepted the application from StanChart HK on Oct. 10 to set up a securities firm in the mainland, Xinhua reported.

The HK unit of StanChart told Reuters in an email that it was "looking to further develop onshore business through acquiring new licences".

Beijing scrapped foreign ownership caps on securities firms and mutual funds for foreign investors on April 1, part of an interim Sino-U.S. trade deal signed in January.

The U.K.-headquartered bank backed a controversial Chinese national security law for Hong Kong and saw its share price tumble last month due to political uncertainties.

(Reporting by Samuel Shen in Shanghai and Scott Murdoch in Hong Kong; Writing by Cheng Leng; Editing by Stephen Coates)


© Reuters 2020
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Financials (USD)
Sales 2021 15 128 M - -
Net income 2021 2 015 M - -
Net Debt 2021 - - -
P/E ratio 2021 10,1x
Yield 2021 2,93%
Capitalization 20 236 M 20 195 M -
Capi. / Sales 2021 1,34x
Capi. / Sales 2022 1,27x
Nbr of Employees 82 084
Free-Float 93,6%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 6,50 $
Average target price 7,91 $
Spread / Average Target 21,7%
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Managers and Directors
NameTitle
William Thomas Winters Group Chief Executive Officer & Executive Director
Andrew Nigel Halford Group Chief Financial Officer & Executive Director
José Viñals Group Chairman
Michael Gorriz Group Chief Information Officer
David Whiteing Group Chief Operating Officer
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