Guosen is one of the leading financial companies in China and, according to a joint statement issued by the pair, has dominated the world rankings for initial public offerings in volume terms – largely due to its “strong presence with medium-sized businesses”.
The statement added that, traditionally, both companies have a close working relationship with entrepreneurs and family owned businesses and the announced agreement “stems from a common goal to strengthen the ties between Chinese and French companies”.
As part of the deal, Oddo & Cie subsidiary, Oddo Asset Management will work with Guosen on distribution and investment advisory agreements. To begin with, Guosen will be advising Oddo AM on a renmimbi fixed income investment strategy to be managed and distributed by Oddo AM in Europe, while Oddo AM will be advising Guosen Securities for a thematic “luxury & lifestyle” global equity strategy to be managed and distributed by Guosen Securties in Mainland China.
Meanwhile, in the investment banking domain, Guosen Securities and Oddo Corporate Finance will advise French companies targeting an IPO in China or Hong-Kong markets but also of Chinese companies seeking access to European equity markets.
Hu Ji Zhi, chairman and chief executive of Guosen Securities said: “The rapid development of China’s financial markets leads us to seek partnerships with the leading international players. For the first agreement signed with a foreign partner, we have chosen Oddo & Cie, with whom we share many common points.”
