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Goldman to merge four units to create a larger entity to invest in private companies, real estates and other deals

Goldman Sachs is finally embracing its status as a private equity giant.The firm’s top executives in recent months have laid out plans to raise more client funds for private investing and rely less on its own balance sheet. As part of that effort, the bank is looking to consolidate the investing activities of multiple units across the firm to add more heft to its merchant banking division, according to people briefed on the matter. A related announcement was set for as soon as Monday.The Wall… Source link

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Ping An’s fintech unit, OneConnect leans towards New York over Hong Kong for IPO, say people familiar

Ping An Insurance Group’s OneConnect financial technology unit is leaning toward picking New York over Hong Kong for its initial public offering (IPO) in the hope of achieving a higher valuation, three people with direct knowledge of the matter said.Ping An Insurance, China’s biggest insurer by market value, had been planning a Hong Kong IPO of the unit since the beginning of the year in a deal that could raise up to US$1 billion.The insurer is now seeking to list OneConnect in New York as… Source link

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Loss-making Hareon Solar has cheapest stock in China, at just 0.02 per cent of liquor giant Kweichow Moutai’s share price

A struggling manufacturer of components for solar panels has set a new record for having the cheapest ever shares in China’s stock market.Shares of Hareon Solar Technology, which is set to be stripped of its listing status, were trading at 0.18 yuan (2.6 US cents) on Monday after declining for 14 consecutive days, making it the least valuable stock among the 3,000-plus companies on the mainland Chinese exchanges.The solar cell and module maker’s stock price is a mere 0.02 per cent that of… Source link

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Typhoon season is round the corner and climate change is upon us – there’s no better time to get into green finance

A harbourside commercial building had its windows blown out when Super Typhoon Mangkhut made landfall in Hong Kong on September 16, 2018. Flooded homes, damaged infrastructure, disrupted supply chains and higher insurance premiums are some of the effects of climate change we need to plan for. Photo: AFP Source link

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London-Shanghai stock connect goes live, allowing foreign firms to list their shares in mainland China for the first time

Foreign companies will be able to list their shares in mainland China for the first time starting today, with the official launch of the long-awaited London-Shanghai Stock Connect scheme.The groundbreaking project, which will enable firms listed in the UK and mainland China to raise funds on each other’s stock market, is seen as a major step for Beijing in its efforts to internationalise its markets. It had originally been scheduled to launch in December.Huatai Securities, one of China’s… Source link

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Hong Kong to become a hub for catastrophe bonds as Greater Bay Area takes shape

Hong Kong could emerge as a trading hub in products that help insurance companies in the “Greater Bay Area” offset risk related to property damage arising from flooding and other natural disasters, according to experts.Catastrophe bonds are structured credit instruments often used by US and Japanese insurers, as well as reinsurers, to raise capital by offloading the insured risks from natural disasters, be it wildfires in California or earthquakes in Nagano.Tow Lu Lim, a partner at law firm… Source link

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Alibaba applies for one-to-eight stock split to seek flexibility in its ability to raise capital, attract new investors

Alibaba Group Holding, operator of the world’s largest e-commerce platform, has applied to split its ordinary shares, part of a move to increase the flexibility of its capital raising activities, including the issuing of new shares.The New York-listed Chinese e-commerce giant is proposing to split each of its ordinary shares into eight, according to a stock exchange filing. Under the changes, one American Depositary Share (ADS), which currently represents one ordinary share, will represent… Source link

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China’s rare earth stocks are investors’ new hedge against trade war as Beijing rolls out countermeasures against Trump

In a twist, traders have found a hot new bet in China’s stock market that has churned out jaw-dropping gains specifically because of deteriorating US-China relations: rare earths.While the benchmark gauge Shanghai Composite Index has remained in the doldrums over the past month amid the trade stand-off between Beijing and Washington, China Minmetals Rare Earth, China Northern Rare Earth (Group) High-Tech and other major producers of the elements have shot up at least 34 per cent, making them… Source link

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Dutch insurer Aegon sees digital distribution as the path to growth in China and rest of Asia

Aegon hopes to attract new customers in Asia by tapping into something that is never far from consumers’ eyes and almost always on: their mobile phones, the Dutch insurer’s regional chief executive said.It is partnering with the likes of mobile payment providers MobiKwik in India and Ant Financial’s Alipay in China to reach new customers in the world’s fastest developing region for the insurance industry. Ant Financial is an affiliate of Alibaba Group Holding, the parent company of the South… Source link

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