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Search resuls for: "Roxanne Liu Kane Wu"


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☆ Middle East asset manager Investcorp eyes up to $550 mln in first China yuan fund
  + stars: | 2023-11-14 | by ( Roxanne Liu Kane Wu | Roxanne Liu | Kane Wu | ) www.reuters.com   time to read: +4 min
Signs of Chinese yuan and U.S. dollar are seen at a currency exchange store in Shanghai, China August 8, 2019. "I hope over time, we will be more than just a Middle East investor in China. I want us to be perceived also as a local Chinese investor," Ben-Gacem told Reuters, adding that the final fundraising size will depend on investor appetite and market conditions. Some private equity and venture funds are stepping up efforts to raise yuan funds. ($1 = 7.2884 Chinese yuan renminbi)Reporting by Roxanne Liu and Kane Wu; Editing by Sumeet Chatterjee and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.
Persons: Aly, Investcorp, Investcorp's, Hazem Ben, Gacem, Ben, Mubadala, LSEG, China Everbright, Fung, Roxanne Liu, Kane Wu, Sumeet Chatterjee, Gerry Doyle Organizations: REUTERS, Rights, Reuters, Electronics, Middle, Rongsheng Petrochemical, CYVN Holdings, NIO Inc, Gulf Cooperation Council, Thomson Locations: Shanghai, China, Rights BEIJING, Bahrain, East, Abu Dhabi, Investcorp, Shandong, Tengzhou, Middle East, Gulf, U.S, Hong Kong, Chinese, Guangdong, Macau
☆ Moody's cuts Fosun International's credit rating, raises concerns over asset sales
  + stars: | 2022-10-26 | by ( Roxanne Liu Kane Wu | Roxanne Liu | Kane Wu | ) www.reuters.com   time to read: +3 min
BEIJING/HONG KONG, Oct 25 (Reuters) - Global credit rating agency Moody's downgraded Fosun International Ltd (0656.HK) by one notch on Tuesday and revised its outlook to "negative" from "ratings under review" amid concerns over the firm's accelerated asset sales. Fosun and its units had earlier cut stakes in firms such as New China Life Insurance (601336.SS) and Shanghai Yuyuan Tourist Mart Group (600655.SS). Fosun, controlled by billionaire entrepreneur Guo Guangchang, was once one of China's most aggressive dealmakers overseas, buying high-profile assets including resort brand Club Med. Fosun's cash on hand at the holding company level is insufficient to cover its short-term debt maturing over the next 12 months, Moody's added. Fosun also expects to gradually repay the outstanding senior notes and increase borrowings from banks, the report said.
☆ Moody's cuts Fosun International's rating, revises outlook to 'negative'
  + stars: | 2022-10-26 | by ( Roxanne Liu Kane Wu | Roxanne Liu | Kane Wu | ) www.reuters.com   time to read: +2 min
BEIJING/HONG KONG, Oct 25 (Reuters) - Global rating agency Moody's downgraded Fosun International Limited (0656.HK) by one notch on Tuesday and revised its outlook to 'negative' from 'ratings under review', after the firm divested more assets to ease liquidity and debt burdens. "Moody's expects Fosun to face difficulties in refinancing its sizable short-term debt in public bond markets, both onshore and offshore, given the current weak market sentiment," the rating agency said. Fosun's cash on hand at the holding company level is insufficient to cover its short-term debt maturing over the next 12 months, Moody's said. Fosun's management also plans to gradually repay the outstanding senior notes and increase borrowings from banks, the report said. The company did not make any comments on the Bloomberg story or the Citigroup report in response to queries from Reuters.
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