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China's CICC Prepares for Hong Kong Listing

China's CICC Prepares for Hong Kong Listing TPG owns 10.3% and KKR holds 10%. HONG KONG--Chinahttp://www.nasdaq.com/write-up/chinas-cicc-prepares-for- hong-kong-listing-20140- 14- 00010?utm_supply=feedburner&utm_medium=feed&utm _campaign=Feed:+nasdaq%2Fauthors+(Articles+by+Aut hor) Subscribe to WSJ: http://on the net.wsj.com?mod=djnwires Create to Prudence Ho at prudence.ho@wsj.com Over the years, the bank, headed by "princeling" Levin Zhu, the son of Zhu Rongji, expanded beyond underwriting domestic and Hong Kong initial public offerings and Chinese bonds to be a securities brokerage with a private equity unit, but advising on capital markets remains its core company. The investment bank has invited bankers to pitch on underwriting its possible initial public offering in the city, the folks stated, but no time frame was instantly available. and TPG Capital in December 2010. With China shutting its IPO marketplace for an more than-year- long moratorium until early this year, and quite a few of the large state-owned IPOs in Hong Kong that it made its name on done, CICC is no longer as dominant as it utilized to be amongst Chinese investment banks. The parties didn't disclose the consideration of the transaction, but folks familiar with the predicament mentioned at the time that the consortium spent about US$1 billion for the stake. (Finish) Dow Jones Newswires CICC, 1 of China's initially investment banks, was set up in 1995 by Morgan Stanley with China Construction Bank Corp, a pioneering move at the time. Princelings are the relatives of high- ranking Chinese government officials, and Zhu Rongji was the former premier of China. Copyright (c) 2014 Dow Jones &amp Business, Inc. Morgan Stanley sold its stake to a consortium comprising Government of Singapore Investment Corp. Great Eastern Holdings Ltd., the insurer controlled by Oversea-Chinese Banking Corp. private- equity firms Kohlberg Kravis Roberts &amp Co. in 2000. " id="pdf-obj-0-4" src="pdf-obj-0-4.jpg">

TPG owns 10.3% and KKR holds 10%.

HONG KONG--China International Capital Corp., one of China's prime investment banks, is preparing for a Hong Kong listing, people familiar with the circumstance mentioned.

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Over the years, the bank, headed by "princeling" Levin Zhu, the son of Zhu Rongji, expanded beyond underwriting domestic and Hong Kong initial public offerings and Chinese bonds to be a securities brokerage with a private equity unit, but advising on capital markets remains its core company.

The investment bank has invited bankers to pitch on underwriting its possible initial public offering in the city, the folks stated, but no time frame was instantly available. and TPG Capital in December 2010. With China shutting its IPO marketplace for an more than-year- long moratorium until early this year, and quite a few of the large state-owned IPOs in Hong Kong that it made its name on done, CICC is no longer as dominant as it utilized to be amongst Chinese investment banks. The parties didn't disclose the consideration of the transaction, but folks familiar with the predicament mentioned at the time that the consortium spent about US$1 billion for the stake.

(Finish) Dow Jones Newswires

CICC, 1 of China's initially investment banks, was set up in 1995 by Morgan Stanley with China Construction Bank Corp, a pioneering move at the time. Princelings are the relatives of high- ranking Chinese government officials, and Zhu Rongji was the former premier of China.

Copyright (c) 2014 Dow Jones &amp Business, Inc.

Morgan Stanley sold its stake to a consortium comprising Government of Singapore Investment Corp. Great Eastern Holdings Ltd., the insurer controlled by Oversea-Chinese Banking Corp. private- equity firms Kohlberg Kravis Roberts &amp Co. in 2000.

07-14-140115ET. Bankers will meet the management of CICC in the coming weeks and then CICC will pick banks that can manage the share sale.

Currently, Central Huijin Investment Ltd., the domestic investment arm of China's sovereign-wealth fund, is the single largest shareholder in CICC holding 43.35%, whilst Singapore's GIC holds 16.35%, according to CICC's annual report. But following disputes emerged with the venture's management more than personnel, the firm's culture and its dealings with other foreign banks, Morgan Stanley became a passive investor in CICC and sold its 34.three% stake in 2010.

By Dow Jones Enterprise News, July 14, 2014, 01:15:00 AM EDT

CICC's landmark transactions, all of state-owned firms, incorporate underwriting a US$22.1 billionShanghai-Hong Kong dual listing in 2010 by Chinese lender Agricultural Bank of China Ltd., nonetheless the world's largest IPO a US$21.9 billionShanghai-Hong Kong dual listing by Industrial &amp Industrial Bank of China in 2006 and a US$five.6 billionHong Kong-New York dual listing by telecommunications services provider China Unicom Ltd