New | CMI planning to spin off helicopter leasing business for IPO this year
Helicopter leasing company Yalian Tongyong Hangkong will be set for an IPO, according to CMI chairman
China Minsheng Investment, one of China’s largest private investment funds, plans to spin off a helicopter leasing business for an initial public offering this year, the South China Morning Post has learned.
China Minsheng Investment chairman Dong Wenbiao told The Post during an exclusive interview that the spin-off will include Yalian Tongyong Hangkong (YTH), a company which is primarily involved in helicopter leasing.
Dong did not specify whether other aviation units would be bundled into YTH for the new listing, nor did he reveal the valuation of the company, or the ultimate destination for the IPO, saying investment banks “are discussing the issue.”
CMI controls a separate aviation charter business, which ranks No 2 globally in terms of fleet size behind rival Netjet, controlled by US billionaire Warren Buffett. It was not immediately clear whether YTH is held within the organisational structure of the larger aircraft-leasing entity.
Dong stressed that the helicopter business had been “very successful.”
Established in 2014, China Minsheng Investment has raised more than 30 billion yuan (HK$35.8 billion) in investment capital from more than 50 domestic private enterprises.