China Renaissance (CR) Securities has received a broker-dealer license from the Hong Kong Securities & Futures Commission (SFC), enabling the firm to carry out type 1, 4 and 6 activities related to securities underwriting and mergers and acquisitions (M&A).
The approval will transform the firm’s parent company China Renaissance Partners (CRP) from a boutique investment bank into a full service investment bank.
CRP will now be able to expand its business to underwrite IPOs and Follow-ons for the Hong Kong market, marketing block trades, conducting equity research for fund investors and advising on public company M&A transactions.
CRP founder and CEO Bao Fan said, "As one of the leading domestic full-service investment banks, China Renaissance has a responsibility to assist domestic start-ups to grow in all stages of its life cycle and help them to navigate the financial world both domestically and abroad."
Founded in 2004, the Chinese privately-owned independent investment bank has successfully completed over $6bn transactions since its inception.