Financial News says that there is a possibility of UBS leading Chinese domestic market listing in March. The bank is currently preparing to open their investment banking operations in Beijing.
A 20 percent stake in Beijing Securities was brought by UBS for USD200 million in 2006. This made them the first international bank to receive the approval of regulators to begin investment banking in China.
As a result of these plans they have move 70 of their own staff and 200 Beijing Securities staff to man the new venture.
The largest shareholder in the business will be the government of Beijing, who will hold a 33 percent share. A chinese food importer will also hold a 14 percent share.