Beijing Innovation Industry Investment's move underscores the Chinese capital city's push to catch up with other cities in the country, most notably S
The deal would value the Chinese firm at $8.5 billion before the investment.
The new fund will actively look at making new investments in distressed assets in China, mainly in the real estate sector.
IPOs & Markets
An IPO of Wanda's sports assets would include Infront Sports & Media AG and World Triathlon Corp.
Byton is backed by China’s retail giant Suning and healthcare services provider Fullshare Holdings.
For Beijing, the move is seen helping to counter U.S. curbs on its technology companies and may draw the next generation of hi-tech firms to list at h
Futu also counts venture capitalists Sequoia Capital China and Matrix Partners China as its backers.
The music streaming giant is selling 82 million American Depositary Receipts (ADRs) in a range of between $13 and $15 each.
The fund, which is Boyu’s fourth and would be its largest to date, is expected to close in the coming months.
HNA has attracted much scrutiny for its $50 billion worth of deals in recent years that included hotels in the United States and left it the largest s
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