Ltd., Sequoia Capital China I LP, Golden Brick Capital Private Equity Fund I LP and China Renaissance Holdings Ltd. Others in the group offering the buyout include state-owned CITIC Securities Co. Shares rose to $70.15 following the announcement. That would be a 16 percent premium over Tuesday’s closing price of $66.05. The group led by Zhou Hongyi, Quihoo’s founder, offered $77 per U.S.-traded share, Qihoo said. The Qihoo offer gave no indication whether the buyout group planned to seek a market listing in China. Combined with a stock price boom that began in late 2014, that has prompted expectations companies that buy back shares abroad will seek listings on Chinese exchanges instead. Communist leaders have promised to give private companies more access to China’s stock markets and other financing in an effort to make its economy more productive.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |