Aurangzeb eyes joint ventures with Hong Kong

HONG KONG: Pakistan is exploring more joint ventures with Hong Kong and secondary listings for its firms in the city, the country’s finance minister said ahead of a meeting with Chief Executive John Lee Ka-chiu on Monday.

In an exclusive interview with the Post, Muhammad Aurangzeb also said he would express his interest to Lee about the possibility of having a Hong Kong delegation visit Pakistan to identify areas for closer collaboration. Aurangzeb is in Hong Kong for the two-day Asian Financial Forum. High on the agenda for his meeting with the city leader was exploring opportunities for Pakistani companies to list in Hong Kong, Aurangzeb said. “If there is an opportunity for companies out of Pakistan, as joint ventures with local companies, to come in and do primary and secondary listings in the Hong Kong stock exchange, for instance, I think it can be a real win-win, not only in terms of the investment that we expect back in Pakistan, but also outward investment,” he said. Aurangzeb said Pakistani companies and banks had traditionally opted for secondary listings on the London Stock Exchange, noting that local firms had not been aware of Hong Kong’s reputation for international capital raising. “I would say that Hong Kong can certainly do more in promoting itself as a destination for companies to raise capital,” he added.