This article only represents the author's own views.
Tianneng Battery Group (688819.SS) jumped on a train to Switzerland last week, adding its name to a growing list of Chinese companies headed to a country better known for its chocolate than financial markets, with its announcement that it obtained regulatory approval to list on the Swiss stock exchange. But the fundraising rush to one of Europe’s most scenic countries is getting fueled more by politics than market forces, observers say.
If it completes its plan, Tianneng would join 10 Chinese companies that have already listed on the SIX Swiss Exchange, including Lepu Medical Co. (300003.SZ) and Joincare Pharmaceutical Group (600380.SS). But that group is hardly tasting any sweetness from their Swiss listings, languishing in a sea of chilled investor interest and dearth of liquidity. Still, the train to Switzerland continues to rumble ahead, with more than another dozen Chinese companies still waiting to list there.