China Renaissance Is Said to Seek H.K. IPO as Soon as This Year
(Bloomberg) -- China Renaissance, the boutique bank behind some of the country’s biggest deals, is seeking a Hong Kong initial public offering as soon as this year, people familiar with the matter said.
The company is seeking a valuation of $1.5 billion to $2 billion, the people said, asking to not be identified as the details are private. China Renaissance declined to comment.
Founded in 2004 by Bao Fan, a former banker at Morgan Stanley, China Renaissance’s deals include the 2015 merger of Didi and Kuaidi to create the country’s biggest ride-hailing firm. In that deal, it worked for both sides and took fees from each. It was also the matchmaker for Meituan and Dianping, which merged at a $15 billion valuation in the same year.
The bank also worked as an adviser to JD.com Inc. when it sold a stake to Tencent Holdings Ltd.
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