CHINA Renaissance Group, an investment bank led by one of the country’s most famed rainmakers, aims to raise as much as US$800 million in a Hong Kong initial public offering (IPO), sources with direct knowledge of the matter said.

The bank is known for having advised both sides on some big Chinese tech deals, including the 2015 merger of ride-hailing giant Didi Chuxing, with China Renaissance founder Bao Fan locking himself and the two CEOs in a hotel suite until they reached agreement.

Beijing-based China Renaissance plans to raise between US$600 million and US$800 million, the sources said.

It is targeting a valuation of US$4-US$5 billion, said the sources. (SD-Agencies)