Chinese finance leasing firm debuts in Hong Kong
March 31, 2011 | BY
Candice MakPRC-based financial services group, Far East Horizon has raised US$658 million from its initial public offering in Hong Kong and global offering. The listing…
PRC-based financial services group, Far East Horizon has raised US$658 million from its initial public offering in Hong Kong and global offering. The listing included a Hong Kong public offering and a Rule 144A/Regulation S international offering. This is the first red chip listing in Hong Kong approved by the China Securities Regulatory Commission since 2009 and the first ever listing of a finance leasing company in Hong Kong.
The issuer is a subsidiary of Sinochem Group and it specialises in financial leasing and providing extended value-added services to clients in targeted major industries in China, particularly those in healthcare, education, infrastructure construction, shopping, printing and machinery. Strategic invests in Far East Horizon include KKR Future Investments and Government of Singapore Investment Corporation (Ventures).
The joint bookrunners and joint lead managers of the offering were China International Capital Corporation, Morgan Stanley, UBS and HSBC.
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