P chip

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The term P chip (Template:Zh) refers to Chinese companies listed on the Hong Kong Stock Exchange which are incorporated in the British Overseas Territories of the Cayman Islands, Bermuda and the British Virgin Islands with operations in mainland China, and are run by private sector Chinese businessmen. During the 2008 financial crisis, P chips showed a dramatic increase in the rate of bankruptcy failures as compared to H shares or red chips.

Since the main difference among private sector Chinese companies incorporated abroad is the exchange in which they are listed, the following terms are used to differentiate them:

Therefore, the main difference between P chips and S chips is the exchange on which they are traded.

However, a few market participants may use the term "P chips" to refer to the entire universe of private sector Chinese companies incorporated abroad, regardless of the exchange in which they are traded. Therefore, these market participants may refer to S chips or N shares as P chips.

An index that covers prices of P chips is the MSCI P Chip Index.[1]

Recent IPOs of P chips

As of August 2010

  • Bright Smart Securities & Commodities Group Ltd. [1428] (Cayman Islands) (25/08/2010)
  • West China Cement Ltd. [2233] (Jersey) (23/08/2010) (It is also an L share)
  • Infinity Chemical Holdings Co. Ltd. [640] (Cayman Islands) (12/08/2010)
  • Manta Holdings Co. Ltd. [936] (Cayman Islands) (19/07/2010)
  • China ITS (Holdings) Co., Ltd. [1900] (Cayman Islands) (15/07/2010)
  • Tian Shan Development (Holding) Ltd. [2118] (Cayman Islands) (15/07/2010)
  • Convoy Financial Services Holdings Ltd. [1019] (Cayman Islands) (13/07/2010)
  • Chiho-Tiande Group Ltd. [976] (Cayman Islands) (12/07/2010)
  • Sinoref Holdings Ltd. [1020] (Cayman Islands) (07/07/2010)
  • Chaowei Power Holdings Ltd. [951] (Cayman Islands) (07/07/2010)
  • Trauson Holdings Co. Ltd. [325] (Cayman Islands) (29/06/2010)
  • China Liansu Group Holdings Ltd. [2128] (Cayman Islands) (23/06/2010)

Partial list of suspended or delisted P chips

This list includes name of company, stock symbol, and place of incorporation. The Hong Kong Exchange might have reassigned to other companies the stock symbols in this list.

former suspended companies

References

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  1. ^ Page Module:Citation/CS1/styles.css has no content."MSCI Barra". www.mscibarra.com. Archived from the original on 2009-01-19.

See also

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