BRIEF: Citibank leaves UnionPay amid retail business wind-down
Electronic transfer settlements company China UnionPay recently announced that it has terminated the membership of Citibank (China) Co. Ltd., confirming Citibank initiated the move as part of its withdrawal from…
Big Banks Test the Waters for New China Listings With QuantaSing IPO
The adult education specialist’s IPO underwriters include Citigroup, as well as two of China’s biggest investment banksKey Takeaways:Investment banking majors Citigroup and China’s CICC and CLSA are sponsoring a new…
FAST NEWS: CIMC Vehicles Slumps as Pandemic Slams Brakes on Truck Demand
The latest: Container truck manufacturer CIMC Vehicles (Group) Co. Ltd. (1839.HK; 301039.SZ) announced its revenue fell 25.3% to 5.13 billion yuan ($782 million) in this year’s first quarter, while its profit…
FAST NEWS: Citi Discloses 5% Stake in Jiumaojiu, But Shares Still Fall
The latest: Citigroup disclosed it has taken a 5% stake in Chinese restaurant chain operator Jiumaojiu International Holdings Ltd. (9922.HK), according to a Hong Kong Stock Exchange filing. Citi had…
FAST NEWS: CIMC Vehicles Surges, Then Fades After Citigroup Cuts Stakeholding
The latest: Citigroup cut its stake in China's leading container truck maker CIMC Vehicles (Group) Co. Ltd. (1839.HK; 301039.SZ) by approximately 37.53 million shares on Nov. 12, leaving it with only…
Truck Maker CIMC Vehicles Gets Jump-Start From Citigroup
Company’s undervalued shares jump 17% after U.S. financial giant discloses its purchase of a 6.7% stake worth around $200 million Key points: Citigroup has joined Singapore’s GIC by buying a…
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