TAIPEI -(Dow Jones)- HSBC Holdings PLC's (HBC) group chairman, Stephen Green, said Monday the lender has no plans to list in India.
This comes as rival U.K. lender Standard Chartered PLC (STAN.LN) said last month it is working with Indian authorities for a listing in the country, possibly in the second quarter of next year.
HSBC in August mandated China International Capital Corp. and Citic Securities Co. (600030.SH) as bookrunners on its planned US$3 billion-US$5 billion Shanghai initial public offering next year.
While HSBC is seeking a 2010 listing, the timing of the deal is still subject to authorities' relaxation of rules. Foreign-controlled companies are currently not allowed to list on stock exchanges in China.
-By Perris Lee Choon Siong, Dow Jones Newswires; +8862-2502-2557; perris.lee@dowjones.com