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TMK Power Industries – Anatomy of a Reverse Merger
Two years back, I met the boss and toured the factory of a Shenzhen-based company called TMK Power Industries. They make rechargeable nickel-metal hydride, or Ni-MH, batteries, the kind used in a lot...
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US Government Acts to Police OTCBB IPOs and Reverse Mergers for Chinese...
In my experience, there is one catastrophic risk for a successful private company in China. Not inflation, or competition, or government meddling. It’s the risk of doing a bad capital markets deal in...
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In Full Agreement
I commend unreservedly the following article from today’s Wall Street Journal editorial page. It discusses US reverse mergers and OTCBB IPOs for Chinese companies, identifying reasons these deals...
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China PE Firms Do PF (Perfectly Foolhardy) “Delist-Relist” Deals
Hands down, it is the worst investment idea in the private equity industry today: to buy all shares of a Chinese company trading in the US stock market, take it private, and then try to re-list the...
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Crawling Blindfold & Naked Through A Minefield
Making a failed investment is usually permissible in the PE industry. Making a negligent investment is not. The PE firms now considering the “delist-relist” transactions I wrote about last time...
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Private Equity in China, CFC’s New Research Report
– The private equity industry in China continues on its remarkable trajectory: faster, bigger, stronger, richer. CFC’s latest research report has just been published, titled “Private Equity in China...
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Wall Street Journal Op-Ed
It’s only a moderate exaggeration to say that everything I’ve learned of value and enduring truth about politics and economics over the last 25 years came from the editorial pages of the Wall Street...
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The “OTCBB-ization” of the Hong Kong Stock Exchange
– From the world’s leading IPO stock market to a grubby financial backwater with the sordid practices of America’s notorious OTCBB. Is this what’s to become of the Hong Kong Stock Exchange ? I see...
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China’s Capital Markets Go From Feast to Famine and Now Back Again, China...
– The long dark eclipse is over. The sun is shining again on China’s capital markets and private equity industry. That’s good news in itself, but is also especially important to the overall Chinese...
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China juices liquidity, and risk, at OTC exchange — Reuters
China juices liquidity, and risk, at OTC exchange By Pete Sweeney SHANGHAI August 22 Thu Aug 21, 2014 5:10pm EDT (Reuters) – Chinese brokerages will start making markets next week on China’s New Third...
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