China Minsheng Financial to bring more mainland based private companies to Hong Kong
Hong Kong capital markets still appealing for mainland companies, says chief executive Sing Wang
China Minsheng Financial Holding Corporation (CMF), the Hong Kong listed unit of China Minsheng Investment Corporation (CMI), one of China’s largest private investment funds, is looking to connect more mainland companies with Hong Kong capital markets.
“It is true that currently the mainland capital markets tend to give a higher valuation for companies, but Hong Kong still has its appeal and strengths, like its more straight forward fund-raising approval process,” said Sing Wang, chief executive of CMF and former partner at TPG Capital.
Sing, who was also the former CEO of Tom Group, the Chinese media conglomerate controlled by billionaire Li Ka-shing, said CMF will leverage on the strong network of its parent, CMI, to reach more private companies on the mainland.
CMF is looking to tap the niche in early-stage investment for emerging industries like health care and new energy and also provide financial services ranging from private equity financing to initial public offerings, Sing said.
CMI was founded in May 2014 by 60 private enterprises with a registered capital of 50 billion yuan (HK$59.09 billion). Its businesses now covers equity investment, financial leasing, financial consulting, and asset management.