Tag Archives: Boyu

BUYOUTS: Autohome, E-House Drive Back to China

Bottom line: Autohome and E-House are both likely to complete their privatizations from New York, continuing the migration of US-listed Chinese firms returning home to seek higher valuations on China’s stock markets.

Autohome drives away from New York

The drive back home for New York-listed Chinese companies continues as we head into the new week, with online car site Autohome (NYSE: ATHM) becoming the latest to announce a privatization plan. In a slightly unusual twist to that story, Autohome shares actually rose above the offer price before the buyout deal was announced, suggesting investors were hoping for a bigger premium than the one offered. But they quickly fell back to the offer price in after-hours trading.

At the same time, online real estate company E-House (NYSE: EJ) announced it has signed a definitive deal to privatize, nearly a year after it first announced its plan to de-list from New York. E-House’s plan has gone down a windy road since it was first announced last June at the height of a rally that saw China’s stock markets more than double in a year. Since then Chinese markets have tanked twice, and are now about 40 percent lower than where they were when E-House first announced its offer. Read Full Post…

Tencent Beats Alibaba To Banking License

Tencent beats Alibaba to banking license

Earlier reports of e-commerce leader Alibaba’s strong political ties appear to be overstated, following word that archrival Tencent (HKEx: 700) has become the first of China’s major Internet firms to win a highly sought banking license. Both companies had been aggressively expanding into financial services over the past year, though each was reliant on partnerships with other companies that already had licenses to offer services in the highly regulated sector dominated by big state-run companies. But now Tencent will be able to offer many of those services on its own, following this ground-breaking award of a license from the nation’s banking regulator. Read Full Post…

Former CIC Exec Sets Up New China Fund

Former CIC exec starts new fund

Just weeks after a group of seasoned managers launched a major new fund in Shanghai, word is out that another top money manager is preparing to launch yet another fund aimed at selling China companies to global investors. The man behind the latest fund-raising drive is Yu Bin, a former director from China Investment Corp (CIC), China’s sovereign wealth fund. Yu is part of a new generation of market-savvy Chinese fund managers to emerge over the last decade, often after returning from the west where they received both education and experience working for major global fund houses and investment banks. Read Full Post…

News Digest: June 7-9, 2014

The following press releases and media reports about Chinese companies were carried on June 7-9. To view a full article or story, click on the link next to the headline.
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  • COFCO Meat Brings in KKR, Baring PE, HOPU, Boyu as Strategic Investors (Businesswire)
  • China Mobile (HKEx: 941) Rolls Out Own-Brand 4G Phone Selling For 999 Yuan (Chinese article)
  • Apple (Nasdaq: AAPL) Steps Up Campaign To Woo China Developers (English article)
  • Xiaomi China Sales Surpass Apple (Nasdaq: AAPL) In Q1 (Chinese article)
  • Trina Solar (NYSE: TSL) Announces Pricing Of Offering Of 8.8 Mln ADSs (PRNewswire)