The mainland's largest private investment conglomerate is throwing open its membership with a share offering, but it wants more than just a capital injection.
China Minsheng Investment (CMI) sees the fundraising as an opportunity to hone its team by bringing on board privately owned firms that are eager to explore global markets.
"We will welcome well-known and top-notch privately owned companies as new shareholders," Laurence Liao, head of overseas investment at the firm, told the Sunday Morning Post. "Our goal is to build a better team of Chinese investors to seek opportunities abroad."
Liao wouldn't disclose the amount the firm expects to raise with the share issue sometime this quarter. Nor would he name which investors the firm was courting.
CMI was established in August last year under the orders of Premier Li Keqiang , a firm supporter of the mainland's non-state-owned businesses.
Its founding shareholders include 59 powerful privately owned firms such as Suning Commerce Group and Yida China Holdings, and it has registered capital of 50 billion yuan (HK$62.32 billion)