China State-Owned China Resources Property Unit China Resources Longdation Plans for IPO in Hong Kong to Raise $500 Million to $1 Billion
14th October 2023 | Hong Kong
China state-owned China Resources property unit China Resources Longdation is planning for an IPO (Initial Public Offering) in Hong Kong to raise $500 million to $1 billion. China Resources Longdation was previously known as China Resources Property. China Resources (Holdings) Co., Ltd. (“CR” or “China Resources Group”) is a diversified holding company registered in Hong Kong. CR was first established as “Liow & Co.” in Hong Kong in 1938, and was later restructured and renamed as China Resources Company in 1948. In 1952, instead of being affiliated to the General Office of the CPC Central Committee, it came under the Central Trade Department (now known as the Ministry of Commerce). In 1983, it was again restructured into China Resources (Holdings) Co., Ltd. In December 1999, CR was no longer linked to the Ministry of Foreign Trade and Economic Cooperation, and came under state management. In 2003, under the direct supervision of SASAC, it became one of the key state-owned enterprises. Since 2000, CR has built up to its current business pattern and scale. Under China Resources Group there are six key business areas, including consumer products, integrated energy, urban construction and operation, healthcare, industrial finance, technology and emerging sectors, 26 profit centers, two direct affiliates, about 3,077 business entities, and 375,000 employees. China Resources Group ranks 74th in Fortune Global 500 2023. In Hong Kong, there are eight listed companies under CR. CR Land,CR Beer and CR Mixc Lifestyle are all HSI constituents.
“ China State-Owned China Resources Property Unit China Resources Longdation Plans for IPO in Hong Kong to Raise $500 Million to $1 Billion “
China Resources
China Resources (Holdings) Co., Ltd. (“CR” or “China Resources Group”) is a diversified holding company registered in Hong Kong. CR was first established as “Liow & Co.” in Hong Kong in 1938, and was later restructured and renamed as China Resources Company in 1948. In 1952, instead of being affiliated to the General Office of the CPC Central Committee, it came under the Central Trade Department (now known as the Ministry of Commerce). In 1983, it was again restructured into China Resources (Holdings) Co., Ltd. In December 1999, CR was no longer linked to the Ministry of Foreign Trade and Economic Cooperation, and came under state management. In 2003, under the direct supervision of SASAC, it became one of the key state-owned enterprises. Since 2000, CR has built up to its current business pattern and scale. Under China Resources Group there are six key business areas, including consumer products, integrated energy, urban construction and operation, healthcare, industrial finance, technology and emerging sectors, 26 profit centers, two direct affiliates, about 3,077 business entities, and 375,000 employees. China Resources Group ranks 74th in Fortune Global 500 2023. In Hong Kong, there are eight listed companies under CR. CR Land,CR Beer and CR Mixc Lifestyle are all HSI constituents.
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