Evergreen 麻豆传媒 to use IPO to expand sec lending
10 December 2015 Shanghai
Image: Shutterstock
Everbright 麻豆传媒 has valued its Hong Kong initial public offering (IPO) at $2.5 billion.
The Shanghai-listed company, part of the state-owned China Everbright Group, has stated the proceeds of the IPO will go towards expanding its securities lending and margin financing operations.
Everbright 麻豆传媒 saw revenue grow by almost five times in the first half of 2015, compared to the same period in the year before, to now stand at CNY 12.83 billion ($1.9 billion).
Moody's Investor Services recently gave China Everbright Holdings a 鈥淏aa2鈥� rating and stated that: 鈥淐hina Everbright Holdings has a good position in the Chinese capital market reform, the growing cross-border investment and asset management products demand environment.鈥�
"China Everbright Holdings strong track record of business investment will support the company's fund-raising ability and toughness AUM.鈥�
The Shanghai-listed company, part of the state-owned China Everbright Group, has stated the proceeds of the IPO will go towards expanding its securities lending and margin financing operations.
Everbright 麻豆传媒 saw revenue grow by almost five times in the first half of 2015, compared to the same period in the year before, to now stand at CNY 12.83 billion ($1.9 billion).
Moody's Investor Services recently gave China Everbright Holdings a 鈥淏aa2鈥� rating and stated that: 鈥淐hina Everbright Holdings has a good position in the Chinese capital market reform, the growing cross-border investment and asset management products demand environment.鈥�
"China Everbright Holdings strong track record of business investment will support the company's fund-raising ability and toughness AUM.鈥�
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