Busy Cherami thinks on listing in SAR

Chinese private equity firm Cherami is considering an initial public offering in Hong Kong as soon as next year, which would see the firm potentially joining peers such as Tiantu Capital (1973) in going public in the SAR.

The Guangzhou-based firm is working with an adviser on preparations of the share sale.

But its IPO size could be smaller than Tiantu, which raised about HK$1.1 billion in its listing earlier this month.

Founded in 2013, Cherami manages assets worth more than 10 billion yuan (HK$10.7 billion), and counts companies in China and overseas among its clients. It focuses on investing in electric vehicles, semiconductors and health care.

The firm invested in Contemporary Amperex Technology, known as CATL, before the initial public offering of the world's largest EV battery maker.

It also invested in Ningbo Ronbay New Energy Technology, which produces and sells lithium battery electrode materials, and Semiconductor Manufacturing Electronics (Shaoxing) Corp.

It also backs ride-hailing firm Chenqi Technology, which filed for a Hong Kong listing in August.

Cherami had in 2017 founded an investment arm in Africa inspired by China's Belt and Road initiative. It has since invested in a free trade zone in Nigeria and a special economic zone in Kenya.