Far East Leasing plans to hold an initial public offering in Hong Kong in the first quarter of 2011, Reuters reported citing banking sources. Far East Leasing, which is a subsidiary of Sinochem, seeks to raise $500 million from the IPO. Kohlberg Kravis Roberts & Co. was one of the investors of the IPO, the source said.
(Reuters) – Far East Leasing plans to launch an initial public offering in Hong Kong in the first quarter of next year, aiming to raise about $500 million, banking sources said on Tuesday.
Private equity firm Kohlberg Kravis Roberts (KKR), investment bank China International Capital Corp (CICC) and Singapore’s sovereign wealth fund GIC were investors of the IPO, the sources said.
Far East Leasing is a unit of China’s Sinochem.
(Reporting by Clare Jim, writing by Lee Chyen Yee; Editing by Chris Lewis)