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HSBC Holdings Plc (HBC), which is the largest bank in Europe, has retained two Chinese investment banks: China International Capital Corp. and Citic Securities Co. Apparently, the firm wants to list its shares in Shanghai, raising up to $5 billion (this would likely happen in the first half of next year).

Actually, this would be a first-time for a foreign firm. But, expect others to do so (especially mega multinationals).

HSBC Holdings already has a strong footprint in Asia. But, with the public offering, there should be more expansion.

Plus, it should be cheap capital. Currently, the valuations in Shanghai are at nose-bleed levels.

Source: HSBC Apparently Considering Shanghai IPO