The successful IPO in Hong Kong marks a major milestone for China Renaissance (CR) and its embrace of the prosperous development of the China New Economy. As one of three cornerstone investors, LGT acquired a USD 25 million stake in the business.
CR is China's leading financial institution dedicated to China's new economy businesses. CR's business includes private placement advisory, M&A advisory, securities underwriting, research, sales and trading, investment management and other financial services. CR is a specialist in providing one-stop financial services across mainland China, Hong Kong and the United States, connecting China’s capital markets with the rest of the world. Asia and in particular China, will continue to see strong growth in the financial services and technology sectors, and CR is well positioned to benefit from these strong secular trends.
“CR is a dynamic and entrepreneurial company that has built up a leadership position in China's highly strategic tech sector since it was established in 2005,” says H.S.H. Prince Max von und zu Liechtenstein, CEO LGT. “We like to work with strong entrepreneurs and look forward to building a strong relationship with CR. This investment is part of a strategic initiative to further strengthen LGT's network with leading Asian tech entrepreneurs and to enhance our investment expertise in this exciting area that we expect will create a lot of value in the years and decades to come.”