Tiantu Capital Gets Closer to $500 Million Hong Kong Share Sale

What’s new: Tiantu Capital, backer of many popular Chinese consumer brands, is moving closer to a $500 million public share sale in Hong Kong to become the first Chinese private equity firm to trade on both the mainland and in Hong Kong.

Tiantu Capital said it received approval from the China Securities Regulatory Commission for an overseas share sale of as many as 199 million shares. The company is awaiting the Hong Kong stock exchange’s clearance for the listing.