“Chinese companies going global has moved to a new stage, where they help foreign targets tell a China story and achieve better global growth, to increase their appeal to global investors,” said Houston Huang, head of JP Morgan’s global investment banking in China, in an interview with the South China Morning Post. “This is the beginning of a new trend.” Last Friday, French fashion retailer SMCP – bought by Chinese textiles giant Shandong Ruyi Technology in 2016 and the owner of the Sandro and Maje fashion labels – debuted on the Paris stock market. Its initial public offering (IPO) came after the firm posted strong international sales last year and launched new stores on Alibaba’s e-commerce site Tmall. Earlier this month, Pirelli, the world’s fifth largest tyre maker, relisted on the Milan stock exchange in one of Europe’s largest IPOs this year. That was two years after China National Chemical Corp bought the firm in a deal worth around $7.7 billion and delisted it.
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