Continued Successful IPOs Underscore the Firm's Deep Ties to Chinese "New Economy" Entrepreneurs
HONG KONG, May 23, 2014 /PRNewswire/ -- China Renaissance Securities (Hong Kong) Limited ("China Renaissance") has advised on the two latest public share offerings of Chinese TMT companies in the United States, expanding its track record as a leading investment banking advisor to China's most promising entrepreneurs.
China Renaissance served as joint book-runner for China's leading online retailer of beauty products, Jumei International Holding Limited, and the largest online direct sales company in China, JD.com. Jumei's IPO was launched on the New York Stock Exchange on May 16. JD.com opened on Nasdaq on May 22.
Since expanding its business into the IPO market in 2013, China Renaissance has been the only Chinese investment bank that acted as the exclusive underwriter on a series of successful U.S. IPOs of TMT companies from China. The firm has advised on several of the most successful IPOs this year, including Weibo, Leju and Tuniu. China Renaissance is currently advising several other Chinese TMT companies on upcoming IPOs, which are also anticipated to take place in the United States.
"These successful IPOs underscore the global investor demand for access to the high-growth sectors of China's economy," said Bao Fan, founder and CEO of China Renaissance. "And within China, we continue to see a strong pipeline of companies looking to tap international capital markets, especially those forging new technology-based business models."
Since its inception in 2004, China Renaissance has advised on over 150 high-profile transactions in China's TMT sector, including IPOs, convertible bond offerings, private placements and mergers and acquisitions.
The latest IPOs build on China Renaissance's long-term partnerships with both Jumei and JD.com. China Renaissance started working with Jumei by acting as its exclusive financial advisor for its round B financing in 2011. Also, China Renaissance acted as the exclusive financial advisor to JD.com for a US$1,500 million financing in 2011 and was the financial advisor to JD.com for its strategic partnership with Tencent in 2014.
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