More Chapter 21 listed funds expected in Hong Kong
Citic Securities IIM has launched a new fund for professional investors under Chapter 21 rules, the first such listing in six years. Clifford Chance expects more to follow in 2011.
Law firm Clifford Chance expects the launch of a new Citic Securities fund on the Hong Kong stock exchange under Chapter 21 listing rules to lead to more such applications in 2011.
Citic Securities International Investment Management (HK) has just launched the China New Economy Fund on the bourse’s main board. It raised about HK$286.6 million ($36.9 million) from professional investors via private placement, with each committing at least HK$515,000.
The fund focuses on new technology …
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