27 Nov 2025
Investcorp supports the listing of Chuangxin Industries Holdings Limited through the Golden Horizon Cooperation Fund
Investcorp, a leading global alternative investment firm, is pleased to announce its participation through the Golden Horizon Cooperation Fund (“the Platform”) as a cornerstone investor, in the $813 million Initial Public Offering (“IPO”) of China’s Chuangxin Industries Holdings Limited (“Chuangxin” or the “Company”) on the Hong Kong Stock Exchange (“HKEX”).
Founded in 2012, Chuangxin is an integrated aluminum conglomerate with $2.1 billion in revenue and $666 million in EBITDA in 2024. The Company, which listed today on the Hong Kong Stock Exchange, comprises an alumina refinery in the Shandong Province and an aluminum smelter in the Inner Mongolia Province.
Following today’s listing, 50% of the IPO proceeds will be allocated to the construction of a new aluminum smelter and processing facility in Yanbu, Saudi Arabia. The other 50% will be invested into the continuous transition of the Company’s energy mix towards wind & solar power generation with the target to reach 50% renewable energy contribution by 2030, which in turn will significantly reduce its carbon footprint and energy cost structure.
In October, Investcorp announced the final close of the Golden Horizon Cooperation Fund which invests in high-growth, profitable companies across Consumer, Healthcare, Transportation & Logistics, and Business Services sectors in the GCC and China.
Walid Majdalani, Head of Emerging Markets Private Equity at Investcorp, commented: “One of our key objectives of the Golden Horizon Cooperation Fund was to foster cross-border expansion and value creation between the GCC and China. Chuangxin’s listing on the HKEX and subsequent plans to build a new aluminum smelter and processing facility in Saudi Arabia showcase how the Platform can help companies scale and deepen commercial ties between the two regions. We look forward to seeing Chuangxin continue to thrive on their continued growth journey.”
Duncan Zheng, Deputy Head of Emerging Markets Private Equity and Head of Investcorp China, commented: “Alongside our sovereign wealth fund partners, and through the Golden Horizon Cooperation Platform, we are pleased to support Chuangxin on its internationalization journey. By listing on the Hong Kong Stock Exchange, Chuangxin can build on its growth pathway, expanding its manufacturing capabilities in the Kingdom of Saudi Arabia and continuing its transition to renewable energy assets, supporting the wider energy transition.”