(Bloomberg) -- Two Shanghai-listed companies plan to start taking investor orders for their global depository receipts in Zurich as soon as Friday, according to people with knowledge of the matter, as they vie to be among the first Chinese firms tapping the Swiss market in the new stock connect regime.

Building materials manufacturer Keda Industrial Group Co. and Ningbo Shanshan Co., a lithium battery materials maker, are looking to open their books to investors on Friday, the people said. 

Ningbo Shanshan, which has received approval from the Chinese securities regulator, aims to raise between $700 million and $1 billion in the GDR issuance, the people said, asking not to be identified as the information is private. Keda is seeking $200 million to $300 million from the sale, they said.

Separately, Gotion High-Tech Co. is considering taking investor orders for its Swiss GDR sale as soon as Monday, the people said. The Shenzhen-listed battery maker is planning to raise about 10 billion yuan ($1.5 billion) from a share sale, Bloomberg News has reported.

Deliberations are ongoing and details of the offerings such as size could change, the people said. A representative for Ningbo Shanshan said its exchange filings will have details of the listing, including advisers, and declined to comment further. Representatives for Gotion and Keda didn’t immediately respond to requests for comment.

Read More: China Said to Court Foreign Firms for Cross-Border Listings

China’s securities regulator said in February that the Shanghai-London Stock Connect, which allows companies that are listed on one exchange to offer depository receipts on the other, will be extended to include firms listed in Switzerland, Germany and Shenzhen.

The GDR listings offer a sought-after opportunity for Chinese companies to raise funds overseas, as US listings have been frozen amid heightened geopolitical tensions, while volatility in Hong Kong this year is giving issuers second thoughts about the market. Ming Yang Smart Energy Group Ltd., a Chinese wind turbine maker, raised $707 million via a similar GDR offering in London.

Ningbo Shanshan is working with Huatai Securities Co. on its listing, Bloomberg News reported last month. 

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