Top China Funeral Provider Gains 66 PCT in First Trading Day

December 19, 2013
Advertisement

Death care business in China seems to be booming!

Shares of Fu Shou Yuan International Group Ltd, China’s largest provider of funeral services, soared as much as 66 percent in their Hong Kong trading debut on Thursday, leading a pack of first-day trading gains in the city.

Shares in Fu Shou Yuan, in which private equity firm Carlyle Group LP and hedge fund firm Farallon Investors took a minority stake, jumped to HK$5.30 compared with an IPO price of HK$3.33, according to Hong Kong stock exchange data.

Carlyle, whose co-founder William Conway visited Fu Shou Yuan’s main cemetery in Shanghai with a group of eight executives in December 2010, agreed to buy $25 million worth of shares, giving the company a $16.5 million paper profit on its week-old investment.

Advertisement

San Francisco-based Farallon bought another $10 million worth of Fu Shou Yuan shares, according to the IPO prospectus.

Fu Shou Yuan’s IPO was swamped by orders from small investors with the retail portion generating demand of more than 681 times the shares on offer, a company filing showed on Wednesday. The institutional tranche of the IPO was “very significantly over-subscribed”, the filing added.

[Source: http://in.reuters.com/article/2013/12/19/hongkong-debuts-idINL3N0JY0F820131219]

CDFuneralNews

ConnectingDirectors.com is the leading online daily publication for funeral professionals with a reader base of over 45,000 of the most elite and forward-thinking professionals in the profession. With ConnectingDirectors.com we have created a global community through an online platform allowing funeral professionals to Stay Current. Stay Informed and Stay Elite.
Advertisement

You may be interested

On Our Soapbox: The Truth About Cremation | FUNERAL nation 085
FUNERAL Nation
136 views
FUNERAL Nation
136 views

On Our Soapbox: The Truth About Cremation | FUNERAL nation 085

CDFuneralNews - August 16, 2017

Cremation truth and Social Media Screwup: Watch Ryan & The Commander tell it like it is on their soapbox! (more…)

How Watching Movies In a Cemetery Became an L.A. Summer Staple
Cemetery
48 views
Cemetery
48 views

How Watching Movies In a Cemetery Became an L.A. Summer Staple

CDFuneralNews - August 14, 2017

The often sold-out Hollywood Forever Cemetery screenings have cemented themselves as a seasonal institution in the Southland, drawing scores of fans and A-listers.

Funeral Homes are Struggling to Keep Their Doors Open
Cremation
61 views
Cremation
61 views

Funeral Homes are Struggling to Keep Their Doors Open

Ryan Thogmartin - August 13, 2017

This is a topic and conversation that does not get talked about or covered enough. We all want to put the blame on cremation and ignore the fact that many of the issues facing funeral homes aren't because families choose cremation but because of bad business decisions of many funeral directors who don't want to change or accept cremation.

Comments