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China-Focused Welkin Fund Plans $300 Million London IPO

Tuesday, September 06, 2022

(Bloomberg by David Helier) - Welkin China Private Equity Ltd., an investment company focused on buying stakes in private Chinese companies, is planning to seek as much as $300 million in a London initial public offering. 

The newly established vehicle aims to list on the London Stock Exchange’s premium segment and expects to publish its prospectus in the coming days, it said in a statement Monday, confirming an earlier Bloomberg News report. It will be managed by Welkin Capital Management (Asia) Ltd., a growth investment firm started by financier Johnny Kong.

Welkin Capital’s portfolio companies have included Juneyao Airlines Co., a Shanghai-based carrier which listed in 2015 and now has a market value of about $4.8 billion, as well as Tuhu, a Chinese online car-services platform backed by Tencent Holdings Ltd. that’s exploring an IPO. 

It has also invested in athletic gear maker East Asia Sport, skincare brand Shawya Biotechnology, bilingual school operator Aidi Education and craft beer brand Great Leap Brewing, according to Welkin Capital’s website. The firm, which oversees about $500 million of assets, has made a compound annualized return of 28% through the end of last year.


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