
China secondaries: When push comes to shove

China GPs are under pressure to return cash to investors but IPO exits are challenging. Secondary sales are emerging as an option. Who best placed to deliver on the US dollar and renminbi sides?
At first it just slowed to a trickle. As of mid-2012, China's securities regulator was still willing to approve applications to list in Shanghai and Shenzhen, just not in the same volume as the boom years....
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