July investment deals at 3-year high
Print Edition
VENTURE capital and private equity firms secured the most number of investment deals in three years in July, with the momentum likely to continue, an industry report said yesterday.
The number of settled deals rose 43.5 percent from a month earlier to 122 last month, the Beijing-based Zero2IPO Research Center reported.
The value of 108 deals whose transaction figures were available totaled US$3.025 billion, a 28.4 percent rise from June.
The machine manufacturing sector attracted the most investment of US$623.8 million, accounting for 20.6 percent of the combined value. This was due to the purchase of a 10 percent stake in home appliance manufacturer Qingdao Haier Co by US PE firm Kohlberg Kravis Roberts & Co.
That was followed by US$480.4 million in the real estate sector and US$458.1 million in the financial industry.
In terms of the number of deals, the Internet industry topped with 41 deals, followed by 18 deals in the telecommunications sector and 12 in IT sector.
The State Administration of Foreign Exchange, the foreign exchange regulator, launched a pilot program on Monday that allows foreign companies to buy stakes in Chinese companies with their registered capital.
The program was running in 16 special economic zones, including those in Shenzhen City and Pingtan in Fujian Province, as part of a reform to relax capital controls on foreign companies.
“The experiment is a major stimulus for the private equity industry as it offers a new access for foreign capital to enter Chinese market,” said Liu Hongyuan, an analyst with Zero2IPO.
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