Huawei Wants An ASX Listing, Just Not Now
China s Huawei Technologies won t list on the AustralianSecurities Exchange until 2017 at the earliest, if at all, as it seeksto convince Australian authorities that it s run transparently andnot an arm of the Chinese state.
An Australian listing is a five-to-10 year aspiration of Huawei slocal board, and no concrete plans have been made, a personfamiliar with the matter told Deal Journal Australia.
Huawei is the world s largest telecom equipment vendor after Sweden s Telefon AB L.M. Ericsson , but is hitting road bumps as it expands overseas because the supply of telecommunicationstechnology is a sensitive issue for governments. Huawei was founded by Ren Zhengfei, a formerofficer of the People s Liberation Army in China, who still runs the company as chief executive.
Late last year, the U.S. Congress launched an investigation into whether Huawei and other Chinesetelecommunications companies pose a potential national-security threat as they expand in the U.S. The probe aimed to examine how Chinese companies are supplying components of U.S. telecommunications systems and the security threats that activity may pose. It also aimed to lookat the intelligence-collection capabilities that access to U.S. systems would provide a foreigngovernment.
U.S. officials worried the Chinese government could access that equipment and track phone callsor emails, or disrupt or destroy a communications system.
Australia also has big concerns, despite Huawei s efforts at building bridges. In June 2011, theShenzhen-based company announced the creation of an Australian board,which included formerLeader of the Opposition Alexander Downer and former Premier of Victoria John Brumby.
But the firm was deemed unsuitable to bid to work on the country s US$36 billion nationalbroadband network, or NBN, despite its role on similar projects in countries including New Zealand, Singapore, and the U.K. The NBN aims to connect 93% of Australia s homes and businesses withoptical fiber so they can have high-speed access to the Internet.
Global concerns about cyber security are rising in the wake of high-profile attacks on governmentand corporate IT systems.
Last year, Australian media reported that computers used by Prime Minister Julia Gillard, thenforeign minister Kevin Rudd and several other government ministers were hacked, allegedly byChinese intelligence services. The government declined to comment on the reports at the time.
Huawei is wholly owned by around 65,000 Chinese employees. More than 75,000 other employeeslocated in 140 countries are currently unable to invest in the company due to Chinese corporatelaws, which restrict overseas shareholdings.
On a visit Down Under last month, Mr. Ren said the company would reinvest its Australian profits inAustralia as part of its localization strategy. In March, the Chinese company lifted its commitment tothe Australian market through a 1.7 million Australian dollar sponsorship of theCanberra Raiders, a National Rugby League team.
Huawei s Australian unit reported revenue of A$229 million in 2011, a 34% increase from 2010.
一位知情人士对《华尔街日报》Deal Journal Australia栏目说，在澳大利亚上市是华为澳大利亚子公司董事会未来5至10年的目标，目前尚未制定具体计划。