Arts
Poly Culture, the art and auction arm of China's state-owned conglomerate Poly Group, saw a hugely successful IPO, underwritten by the newly merged Chinese investment banks CITIC and CLSA, in Feburary.
Courtesy of SASI.
It is now the second-largest component (after Sotheby's) in SASI, Skate's Art Stock Index, which tracks the economic fortunes of 14 companies with a total market capitalization of $5.8 billion broadly representing the art sector of the global market. The Poly Culture IPO was the first by a Chinese auction house and the first underwritten solely by CITIC-CLSA; the investment firm appears poised to do big things in Hong Kong's hot IPO scene.
Background:
Poly Culture joins SASI [Skate]
Poly Culture jumps on trading debut [Bloomberg]
A first for CITIC-CLSA [WSJ]
