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Three Carlyle portfolio companies raise USD780m through IPOs

Three portfolio companies managed by Carlyle Asia Growth Capital Partners have completed their initial public offerings in Hong Kong and in New York, raising a combined total of nearly USD780m in gross proceeds.

China Forestry, Kaisa Group and Concord Medical Services have all seen active trading.
Wayne Tsou (pictured), managing director and head of Carlyle Asia Growth Capital, says: "These IPOs are milestones for China Forestry, Kaisa and Concord. The broad participation in the IPOs by a large number of quality institutions and retail investors stands testament to the strong growth potential of these companies and their leadership in the market.”
China Forestry is one of the three largest privately-held naturally regenerated and plantation forest operators in China, based on coverage area of owned forest rights. It manages and develops sustainable forests for harvesting and sales. All of its logs are sold domestically for construction, furniture, interior decoration, wood products and paper industries. Listed on the Hong Kong Stock Exchange on 3 December 2009, China Forestry raised total gross proceeds of USD200m from the IPO.
Headquartered in Shenzhen, Kaisa is a developer in China’s Pearl River Delta region with one of the largest land banks in Greater Shenzhen area. Kaisa, listed on the Hong Kong Stock Exchange on 9 December 2009, successfully raised USD445m of gross proceeds and attracted a number of large investors from the property sector and major institutions. Kaisa is jointly invested by Carlyle Asia Growth Capital Partners and Carlyle Asia Real Estate Partners.
Concord operates the largest network of radiotherapy and diagnostic imaging centres for cancer treatment and diagnosis in China in terms of revenue and the total number of centers in operation in 2008. Listed on the New York Stock Exchange on 11 December 2009, it has raised total gross proceeds of USD132m from the IPO.

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