It is reported that the relevant departments of the China Securities Regulatory Commission have accepted the application materials for the sale of 34.3% equity held by China International Finance Corporation (hereinafter referred to as CICC) by Morgan Stanley (hereinafter referred to as Morgan Stanley). The application will be approved within 3 months. After Morgan Stanley withdrew from CICC, it will establish a joint venture investment bank with Huaxin Securities.
Industry insiders predict that Morgan Stanley's application for withdrawal from CICC is almost a "final fix", and this equity transaction is likely to be completed in July.
According to the "Rules for the Establishment of Foreign Equity Securities Companies", at least one of the foreign shareholders of a Chinese-foreign equity brokerage is an institution with legal financial business qualifications. At the same time, foreign shareholders shall not transfer the foreign equity securities companies they hold within three years from the date of participation Equity.
Regarding the choice of CICC to introduce new shareholders, Li Jiange, Chairman of CICC, has stated that it will follow three criteria, namely, there is no horizontal competition with CICC, its business is complementary, and it has a long-term commitment to CICC's development.
Since losing control of CICC, Morgan Stanley has been actively looking for opportunities to withdraw from CICC. There is news in the market that there will be two private equity institutions KKR (Kolberg Kravis) and TPG (Texas Pacific) share the equity of CICC held by Morgan Stanley, with a total price of more than 1 billion US dollars . But there is also speculation that Morgan Stanley will deal with a "buyer group" that may include commercial banks or securities companies.
Who is the buyer of the 34.3% stake in CICC, and the profitability of Morgan Stanley through the sale of equity will be known in the near future.
With the cessation of Morgan Stanley's withdrawal from CICC, the "marriage" between Morgan Stanley and Huaxin Securities has been officially put on the agenda.
As early as the end of 2007, Morgan Stanley had signed a memorandum of cooperation with Huaxin Securities. However, as only foreign companies are allowed to set up a joint venture investment bank in China, Morgan Stanley must dispose of CICC shares before applying for a joint venture with Huaxin Securities.
"After the withdrawal from CICC is approved, Morgan Stanley will deliver the materials very quickly and apply for the establishment of a joint venture investment bank with Huaxin Securities. It is expected that this application will be approved soon."
The above information source "Venture Investment" is authorized by the China Venture Capital Research Institute (CVCRI) to publish it. All rights reserved. Please indicate the source when reprinting. For more information, please click download to view all articles.
For more information, please refer to Guotaian Financial Education Group Guotaian Education Service Network Tel-609-6665 800-999-3099
E-mail:
The advantage of EVA Toys for pets like dogs is eco-friendly, non-poisonous and light and colorful. It can be custom as pet ball, Dog Ring Toy, and flying disk and other Teething Toys For Puppies. If you have the new designs 3D STEP format on the pet products wants to custom by EVA Foam material, it can be big as a pet bed as you like, please do not hesitate to contact us, we will make it come true.
EVA Pet Toys,Dog Toys For Chewers,Dog Ring Toy,Teething Toys For Puppies,Teething Toys For Dogs
Dongguan KangTa Plastic Hardware Products Co., Ltd. , https://www.evayes.com