RDIF, CITIC to help Russian cos raise capital in China via joint investment bank
MOSCOW. May 8 (Interfax) - The Russian Direct Investment Fund (RDIF) and CITIC Merchant, a division of China's CITIC financial group, have agreed to form a Russian-Chinese investment bank, an agreement on which will be signed during Chinese President Xi Jinping's visit to Russia on May 8, the RDIF said.
The new bank will provide investment banking services to businesses, including consulting in the area of mergers and acquisitions with a focus on attracting Chinese investors in the equity of Russian companies, and raising debt financing, including the organization of loans from Chinese banks and placement of corporate bonds on Asian markets.
The investment bank will also provide services on the equity capital market, including organization of listings, and initial and secondary public offerings of securities on Chinese markets.
No decision has yet been made on who will head the new investment bank, the RDIF told Interfax.
