Baring backs Yongda Auto IPO
Baring Private Equity has become a cornerstone investor in the IPO of China Yongda Automobile Services, the number-one BMW dealer in China. The company could raise up to $435 million through a listing in Hong Kong.
The private equity firm will invest between $96 million and $120 million in the deal, while Middle Eastern sovereign wealth fund Oman Investment Fund will buy $30 million worth of shares. Between them...
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