China Cinda Asset Management Co, one of the country's state-owned bad bet managers, has raised $2.4 billion in its Hong Kong listing. Proceeds from the deal will be used to enhance its distressed asset management business.
Hong Kong
China Everbright Bank raises $2.6B in Hong Kong IPO
Chinese lender China Everbright Co raised $2.6 billion in its third attempt at a Hong Kong initial public offering (IPO) of 5.08 billion shares priced at HK$3.98 apiece.
RRJ takes China Everbright International stake for $350M
Hong Kong-based private equity fund RRJ Capital Ltd bought a 7.85% stake in renewable power developer China Everbright International Ltd in a deal valued at $350 million.
PAG invests $250M in Universal Studios Japan
Asian buyout firm PAG has committed $250 million in theme park operator Universal Studios Japan. The said fund will be used to develop a new Harry Potter attraction and expand into other parts of Asia.
Greenland Hong Kong acquires Shanghai real estate for mixed-use development
A South China Morning Post report said Greenland Hong Kong Holdings Ltd, the real estate arm of China's state-owned Greenland Group, bought a site in Huangpu, Shanghai for CNY5.95 billion or HK$7.59 billion.
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China Everbright Bank Co Ltd's USD2.8 billion float on Tuesday follows the steps taken by peers Huishang Bank Corp Ltd (3698.HK) and Bank of Chongqing to prepare a financial buffer against bad loans in the near future, said a Reuters report.
Tyco International Inc's South Korean security systems unit ADT Caps is reportedly attracting bids from private equity firms including KKR & Co LP and Bain Capital.
The second fund, which is run by former regional head of New York-based hedge fund Perry Capital LLC Alp Ercil, is targeting to raise USD1.1 billion to invest in distressed assets in Asia.
Formosa International Hotels chairman Steven Pan Si-liang is not daunted to the task of expanding the Regent Hotel brand to saturated Hong Kong and China markets, as evident in a recent interview by the South China Morning Post.
Leveraged finance bankers are heading into 2014 with the same old nagging doubts about whether M&A will finally pick up, but this time round there is an even greater desire for a resurgence as refinancing opportunities fade.
Royal Philips and Funai Electric Co could find themselves in court over the failed deal involving the acquisition of the Lifestyle Entertainment business of the Amsterdam-based firm.
The widow of Hong Kong property developer Sun Hung Kai founder Kwok Tak-seng, Siu-hing, said in a statement yesterday that she handed out a 6.36% ownership stake in each of her sons' family trusts.
China Development Bank Corp. has committed CNY490 million (USD81 million) to clean-energy operator China WindPower Group's solar farm projects in two Chinese provinces. CDB has provided a total of CNY1.23 billion to China WindPower's previous projects.
A source told Reuters that Qinhuangdao Port Co is going to be setting the price of its planned initial public offering at HKD 5.25 per share, which is the bottom of its indicative range.
