Deals
CLSA Leads $1 Billion Swiss GDR Sale for China’s Sanhua, Sources Say
- Shenzhen-listed firm may kick off offering as soon as 1Q
- Company has said it’s planning GDR offering in Switzerland
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Zhejiang Sanhua Intelligent Controls Co., a Chinese manufacturer of components for appliances, has selected CLSA as lead bank to arrange its global depository receipt sale in Switzerland, according to people with knowledge of the matter.
The Shenzhen-listed company is looking to raise about $1 billion through the GDR sale in Zurich, said the people, who asked not to be identified as the information is private. An offering could happen as early as in the first quarter, they said.