SHENZHEN, China, Jan. 11, 2017 /PRNewswire/ -- Asia-based investment company, Puji Group and Chinese A-share listed securities company, First Capital Securities announced the formation of a new joint venture to accelerate the innovation in the Culture, Technology, and Consumer industries in China and abroad through investments and mergers and acquisitions. Financial terms have not been disclosed.
The joint venture positions Puji and First Capital to take advantage on the rapid convergence of content and technology with consumers, with each party bringing significant and complimentary resources and strengths to further develop and extend the reach of companies in China and other key markets. The strategic objective will be to invest and develop China and global growth companies in the Culture, Technology, and Consumer industries to leverage and create a full-spectrum ecosystem that services and supports global business.
Through the joint venture, both companies will gain access to substantial capital, strategic global network, and management expertise that will enable further investments, both organically and through acquisitions, to foster expansion for growth companies in the core industries.
First Capital Securities was founded in 1993 as a full-service and Greater China-wide securities company. Today, the company has over 30 offices across China with nearly 2000 employees providing securities underwriting / brokerage, investment advisory, asset management, and investment banking services. In 2015, First Capital executed 1.56 trillion RMB (US$250 billion) in bond trading activities; and 600 million RMB (US$95 billion) in bond underwriting. Over the last several years, First Capital launched First Capital investment, a wholly-owned subsidiary and fund dedicated to carrying out investments into emerging industrial sectors including new materials, IoT, robotics, environmental science, and new technologies. The new Puji and First Capital joint venture will also leverage the investment capacity and relationship with First Capital Investment on future collaborations.
"The Culture, New Technology, and Consumer industries are innovating and redefining how other business and industries operate globally," says Liu Xuemin, President of First Capital Securities. "Here at First Capital, we take great pride in looking forward to industries and companies that demonstrate great prospects for growth. This new joint venture with Puji Group will only further extend our knowledge base, insight, and access to find opportunities that will capitalize this new future. Puji's history of investing in these industries as well as their relationships and partnerships with leading global conglomerates and tycoon families has made them an ideal partner in this venture."
Director of Puji Group, Alex Szeto, says, "First Capital has been a leading and top-rated name in China's financial industry for over 20 years. They continue to lead and set the pace for further investments in China and abroad through many large-scale enterprises and national industrial funds. Since their successful IPO last year, First Capital has gained more access and flexibility to the capital markets that highly compliments our (Puji) network and investment platform."
Szeto also states, "We believe that the new joint venture will be a new investment platform of its kind that looks at the Culture, New Technology, and Consumer industries in a new light. This new alliance with First Capital and their entire securities infrastructure will seamlessly layer our joint venture's investment platform to create long-term value for these companies we invest and partner with."