The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

The man bankers talk to

On the evening of June 17 Frank Ning appeared very calm. The chief executive of China Resources gave no hint that next morning the newspaper headlines would be trumpeting his company's purchase of 50% of Hongkong Chinese Bank for HK$2 billion (US$258 million). Ning's company has a market capitalization of HK$42 billion, next month it will be rated by Standard & Poor's. Hong Kong's investment bankers say he's the best red-chip manager around. In an interview, Steven Irvine asked:

South China Sea Bubble?

A chat with a taipan


What do you think about investment bankers?

I feel there are quite a few investment banks which do not spend the time understanding the company and just say: "Why don't you do an equity placement?" You have to understand the company's concerns.

Secondly we need new ideas. I think every investment banker in town comes to me and says look I want to do a convertible, I want to do a placement for you, straight equity. As a red-chip company that is becoming a little more sophisticated we need a new instrument. We need a new, more proactive, tailored approach rather than the traditional ways to do the financing.

Service is key too. When there is a presentation you get a whole team of merchant bankers round a table. From number one to number 10. They tell you this is a team, this is how we execute a deal. Suddenly you sign a mandate and then only one of them is left. All the other guys went to other projects to do some more marketing.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree