Haitong plans $1.5b fund to support Chinese firms going global
Chinese brokerage Haitong Securities plans to launch a RMB10 billion ($1.5 billion) fund to support domestic companies expanding overseas, Reuters reported, citing a person familiar with the situation. The fund will be managed through Haitong’s private equity unit and the initial fundraise is expected to be RMB3 billion ($460 million).
The fund has support from the Shanghai government and it is likely to offer particular support to Bright Food Group. Bright Food owns 6% of Haitong and has made no secret of its desire to enter new markets...
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