China Renaissance Seeks Up to $377 Million in Hong Kong IPO
- Deal attracts three cornerstone investors including Alipay
- Ex-Morgan Stanley banker founded the investment bank in 2005
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China Renaissance Holdings Ltd., the boutique investment bank focused on new-economy deals, is seeking to raise as much as $377 million in its Hong Kong initial public offering.
The Beijing-based firm is offering 85 million shares at HK$31.80 to HK$34.80 apiece, according to terms for the deal obtained by Bloomberg on Thursday. Three cornerstone investors including Alipay, the digital payments company backed by billionaire Jack Ma, have agreed to invest about $125 million combined, the terms show.