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Sovereign Wealth Funds Briefing - Categorized | Market

China’s oldest investment bank CICC jumps in HK trading debut

Posted on 10 November 2015

China International Capital Corp (CICC) shares jumped up to 11 percent in their Hong Kong debut on Monday, as investors snapped up China’s oldest domestic investment bank on optimism over mainland equity activity despite this year’s market rout.
CICC’s strong start was helped by China’s decision on Friday to resume IPOs after a four-month halt, a move likely to boost investment banks’ revenues, and sets a positive benchmark for a host of other companies queued up to list. “The timing of the reopening had been a closely monitored exercise by the market. There are hundreds of companies keen to go public,” said Ringo Choi, Asia-Pacific IPO leader at consulting firm EY in Hong Kong………………………………………Full Article: Source


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