Type public Industry Financial services Founder China Everbright Group Revenue 10.4 billion HKD (2015) Parent organization China Everbright Group | Traded as SEHK: 00165 Predecessor IHD Holdings Founded 1997 Headquarters Hong Kong | |
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Area served Mainland China, Hong Kong Stock price 0165 (HKG) HK$ 15.60 -0.12 (-0.76%)3 Mar, 4:09 PM GMT+8 - Disclaimer | ||
China Everbright Limited is a Hong Kong based financial services company in asset management, investment and merchant bank in the Greater China region, including Mainland China and Hong Kong. It is parented by China Everbright Group, a state-owned enterprise operated under the supervision of the State Council of the People's Republic of China (via Central Huijin Investment and the Ministry of Finance).
Contents
China Everbright Limited was considered a red chips in Hong Kong Stock Exchange, refer to the companies incorporated outside mainland China but main business was based in mainland China.
History
The predecessor of the company was found on 25 August 1972 in Hong Kong as Intercontinental Housing Development Limited (Chinese: 明輝發展有限公司, renamed to IHD Holdings in 1987). In 1994 it was takeover by China Everbright Group and renamed into China Everbright-IHD Pacific Limited (Chinese: 中國光大明輝有限公司). On 18 July 1997, the business inherited from IHD was ended, the company was renamed into current name China Everbright Limited (Chinese: 中國光大控股有限公司). On the same day, 20% stake of China Everbright Bank was injected from parent company China Everbright Group, followed by International Bank of Asia on 2 August. On 18 July 1999, Everbright Limited acquired 49% stake of Everbright Securities from the parent company.
In 2002, 35% stake of Standard Life (Asia) Limited was sold to Standard Life. In 2003, SeaBright Asset Management Limited was founded, a joint venture with Seagate Global Advisors (Chinese: 海基資產管理有限公司). In 2000s Everbright Limited acted as sponsor in numbers of firm listing in Hong Kong Stock Exchange, for example, Zijin Mining in 2003.
In 2011, 51% stake of Everbright Securities (International) was sold to Everbright Securities, Everbright Limited remained as the minority shareholder of Everbright Securities, while Everbright Group is the largest shareholder.
In 2016 the company acquired the concession of Tirana International Airport until 2027. The company was the largest shareholder of China Aircraft Leasing Group Holdings.
Business areas
Prior to 2002, Everbright had no asset management department. Mr. Guo You, the CEO at the time set a goal to make Everbright one of China's premier investment firms. To fast track the asset management business he hired William Lawton as CEO of the new asset management company.
Everbright conducts its business activities in three areas: short-term investments, financial services and long-term investments plus other operations. The Company provides portfolio management services for institutional and individual clients, such as China Everbright Dragon Fund, or its SeaBright China Special Opportunities Fund series of direct investment funds, the first of the series that was launched in 2004 in a joint venture with Seagate Global Advisors, LLC. It provides financial advisory services, such as share placements, mergers and acquisitions (M&A), privatization and project financing.