Fox Capital Partners Faces Opposition To Hang Seng IPO
Fox Capital Partners says stakeholders in an alternative energy company have revealed staunch opposition to a Hong Kong IPO.
- (1888PressRelease) November 08, 2015 - Shenzhen, China-based technology and alternative energy-focused broker-dealer, Fox Capital Partners say it is facing staunch opposition from stakeholders in the as-yet-unnamed energy company over suggestions that its IPO be listed on the Hang Seng exchange in Hong Kong rather than the Shenzhen or Shanghai Composite.
"We've suggested that the company could be listed on the Hang Seng Index because both the mainland indices have had blanket bans on IPOs imposed by the CSRC (China Securities Regulatory Commission)," said Ollie Seigler, head of energy research at Fox Capital Partners.
Talks aimed at listing the company's shares on a public exchange have been hampered by disagreements between the various financial backers which include 2 venture capitalists and 3 angel investors who, between them, have committed over $75 million of capital since the company's inception.
"The company's principals are doing their level best to keep all parties happy but this latest obstacle has the potential to derail the entire initiative," explained Seigler.
Fox Capital Partners has reiterated that it does not foresee a lifting of the CSRC ban on IPOs for months to come and has suggested a listing on the Hang Seng Index in Hong Kong as an alternative. The venture capitalists are vehemently opposed to the switch citing significantly higher costs associated with a Hong Kong listing.
"The angel investors appear to be a lot more flexible in this regard but without unanimity, it's clearly not going to happen. Unfortunately, the venture capitalists appear to be keen to move plans forward at a time when the mainland indices are simply closed to new IPOs which is why we suggested Hong Kong as an alternative," explained Seigler.
About Fox Capital Partners
Fox Capital Partners is a successful, independent investment management practice established in China and headquartered in Shenzhen. Our highly-qualified professionals advise on a wide array of wealth accrual, preservation and portfolio management solutions aimed at affluent individuals and families in Asia and elsewhere.
Contact Fox Capital Partners:
PO BOX 154789
Shenzhen
China
###
space
space
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam