Born in Formosa but with a career that has extended abroad, Nicolás Aguzín, 54, Chairman of the Hong Kong Stock Exchange after leaving his position as CEO of JP Morgan. He is definitely one of the few Argentines on the planet with that level of executive responsibility. The Hong Kong stock market is one of the eight most important financial markets in the world.
In a country where, due to defaults, stocks and crises, investments tend to bypass Aguzín, finally Argentinian, it occurred to him that YPF could, through listing on the Hong Kong Stock Exchange, capitalize on investments.
In ten days, the holder of the Hong Kong Stock Exchange will travel to Buenos Aires to do so launch in November. It facilitates the fact that YPF is already listed on the New York Stock Exchange. The news was known this afternoon in Beijing when Pablo González, president of the oil company, joined Minister Massa’s entourage.
The Chinese investment bank CICC is willing “a provide financing services for specific projects and technical assistance for listing on the Hong Kong Stock Exchange”, González recounted.
I also point out that YPF just achieved the highest operating result in its history: 5 billion dollars.
In passing, he commented on what they are negotiating with the Chinese who are conspicuous by their absence in Vaca Muerta. But the Chinese oil company CNPC, the largest producer of oil and gas for this giant, “will participate in the tender for round 2 of offshore exploration” in the Argentine Sea.
And, together with the other Chinese giant, CNOOC, it wants to invest in the unconventional exploitation of hydrocarbons and liquefied natural gas (LNG). Obviously it is necessary the LNG law as an essential preliminary step.
There is another interested in LNG, none other than the Malaysian Petronas. And everyone is waiting for a law that is postponed to a Congress crossed by the elections and by the crack,
Chinese cereal company Cofco have also approached YPF because they want to gain a foothold in “investments in port infrastructure and grain processing, and also in the fertilizer industry”.
YPF really wants its own Canadian partner in Profertil decide to make a capital grant to expand the urea plant they share in Bahía Blanca. But so far it hasn’t materialised. It turned out that for Canadians Argentina is risky.
YPF could become a pioneer in the use of euanes for foreign trade.
China’s ICBC bank “would be a financial bridge between YPF and Chinese companies that want to trade. ICBC has been authorized as a clearer in yuan,” González said in the gardens of the ST Regis hotel where the Argentine delegation is staying.
Source: Clarin
