Hang Seng Bank to launch RMB counter on 19 June

The bank’s shares will be designated as dual counter securities by the stock exchange.

Hang Seng Bank is launching a renminbi (RMB) counter for trading the shares of the bank, beginning 19 June.

The counter is intended to support the new HKD-RMB Dual Counter Model, according to a press release. 

Under this model, the bank’s shares will be designated as dual counter securities by the Hong Kong stock exchange.

Shares may be traded under both the Hong Kong Dollar counter (the HKD counter) and the RMB counter (the HKD-RMB Dual Counters), with the choice of trading and settlement currencies in HKD or RMB. 

Shares will be transferable and interchangeable between the HKD-RMB  Dual Counters, Hang Seng Bank added.

Hang Seng Bank announced 9 May that it has applied for the addition of a RMB counter to the stock exchange.