Goldman bets US$62m on China IPO

摘要

Goldman Sachs' China securities joint venture is set to invest RmMOOm (US$62m) as a sponsor of its first Shanghai Star IPO, stepping up its game in the Nasdaq-style market that accounted for nearly half of A-share IPO proceeds in 2020. Hong Kong and Nasdaq-listed beicene has filed to the Shanghai Stock Exchange for a proposed Rmb20bn Star IPO, with CICC and Goldman Sachs Gao Hua Securities as joint sponsors. Under the Star board listing rules, IPO sponsors must buy a set percentage of the shares on offer, capped at Rmb1bn, and hold them for at least 24 months. In BeiGene's case, each sponsor must invest Rmb400m.