On May 6, Standard Chartered Private Equity together with two other firms acquired a 25% stake in Golden Dragon Group, the world's largest precision tube pipe processing enterprise. The deal will help Golden Dragon Group list on the A-share market within this year.

Besides Standard Chartered Private Equity, the other two firms were Lehman Brothers and Goldman Sachs. The three contributed a combined US$90M, US$50M of which was from Standard Chartered Private Equity and the remaining US$40M from the other two firms evenly. Currently, the Golden Dragon Group has entrusted Standard Chartered Private Equity to seek an IPO tutor, helping the company list on the A-share market.

Data from Golden Dragon Group say the company generated RMB15.8B revenue for 2007, remaining the lead in the global precision tube pipe manufacture market and commanding over 50% market share among the world's first-tier clients.