State-owned enterprises are not required to have equitization advisory firms in accordance with the law. In practice, during the early stages (prior to 2000) some SOEs equitized without the help of any consultant. However, over the past 10 years, almost all SOEs have their professional advisor for the equitization to improve the effectiveness, success ratio. A professional financial advisory firm can accelerate such processand accompany the SOEs till the divestment and listing. Please contact our IB Division for specific advice.