By Bloomberg News
Key pillars of the new law will remove a major threat to investors in its massive technology sector, while putting thousands of overseas companies on notice they may need to renegotiate joint ventures in China.
Yunhu Technology has secured tens of millions of RMB in Series A+ financing led by China Creation Ventures.
Four companies have already decided to ditch Beijing’s New Third Board, and apply for a listing on Shanghai’s Science & Technology Innovation board.
The funding secured by the media and entertainment company is a combination of equity and debt refinancing.
The loan support will help the poultry firm expand its duck breeding capacity in Jilin, Inner Mongolia and rural Shandong.
Among those who left the bank in the past six months include Teddy Kwong, MD and market head for Hong Kong, and Peter Lam, MD and team leader for HK.
Dongzheng Automotive is entering a relatively quiet Hong Kong market for first-time share sales. Deals in the city have raised $1.4 billion this year, about half of the total volume during the same period in 2018.
SoftBank first invested in Didi Chuxing’s $4.5-billion funding round in 2016 and then made an additional investment in 2017 when it backed the Chinese firm’s $4-billion round.
One of its principal shareholders, Xiaomi Corporation, has indicated an interest in purchasing up to $5 million worth of ADSs in the offering.
While it is not uncommon for Chinese companies to raise loans from banks hoping for a mandate on an IPO, it is rare for executives or shareholders to request such personal financing.