REUTERS Citic Capital Sells Stakeke to Qatar Fund | A unit of Qatar's sovereign wealth fund is taking a 22 percent stake in the Chinese asset management firm Citic Capital Holdings, which manages more than $4.4 billion.
Also in January, the privately held Sany Heavy Industry, a Chinese machinery manufacturer, together with the Chinese private equity firm Citic, bought the German pump maker Putzmeister Holding, in a deal worth €360 million, or almost $480 million, according to Xinhua, the state-run news agency.
He secured large investments from outside investors, including Joseph Lewis, a Bahamas-based billionaire who now owns just under 10percentt of the firm, and Citic Securities, the Chinese investment bank, which will have a 6percentt stake.
Citic Securities Shares Slumpp on Planned $1.3 Billion Deal for CLSA | Investorsreactedted with caution on Monday to the planned $1.3 billion purchase of one of the leading independent securities firms in Asia by Citic Securities, the biggest brokerage firm in China.
In 2006 he leased his iron mines to the Chinese-government-owned corporation CITIC Ltd. (formerly CITIC Pacific).
Based on this criterion, there were eight large firms (ABC, BC, BOC, CCB, CITIC, CMB, GDD, and ICBC) and six small firms (CEB, HX, IB, MSB, SPD, and SZD).
Citic, the first brokerage firm in China to hold an initial public offering, said it was selling 400 million Class A shares at 4.5 yuan each, or 15 times 2001 earnings.
Recently, Citic Pacific, an investment firm, has come under scrutiny for sitting on news of a $2 billion currency loss for six weeks before issuing a public statement.In this section Stumble or fall?
In 1996 it sold 25% of Cathay Pacific, Hong Kong's "flag-carrier" airline to CITIC, a Chinese investment firm, and other mainland investors.Jardine's fall into disfavour followed its decision in 1984 to shift its legal domicile to Bermuda, and then, a decade later, to delist its shares from the Hong Kong market.
Hong Kong Red Chips shares of Chinese firms listed in Hong Kong, such as Citic Pacific or China Telecom, are treated separately from the rest of the Hong Kong market, because they tend to be more volatile and have different accounting standards.
Another 10 billion yuan was invested in it last year by strategic investors (including Standard Chartered, UBS and Citic Capital, a private-equity firm).
