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China's GOME hires Cazenove to advise share sale
HONG KONG - Top Chinese electronics retailer GOME has hired Cazenove to advise on possible new share issuance to potential foreign investors including Carlyle Group and Bain Capital, sources said on Wednesday.
GOME Electrical Appliances, whose founder and ex-chairman is being investigated by Chinese police, is keen to issue new shares in a private placement to new investors to boost its capital but no financial details have been settled, two sources with direct knowledge of the plan told Reuters.
In November, Asia-focused bank Standard Chartered acquired Cazenove Asia, including its staff, mostly based in Hong Kong, for an undisclosed sum.
A spokeswoman for Cazenove Asia in Hong Kong could not be immediately reached for comment. GOME declined to comment.
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