Beijing-based private equity investment company Origo Partners has announced that it intends to raise up to $35m via a placing to "capitalise on further investment opportunities developing in the Chinese market in early 2012."
The placing is of new ordinary shares to existing and new shareholders at a price of 36p per share. Origo said that it has already received indications of interest for more than $32m from shareholders.
"The net proceeds of the Placing are intended to be used to fund identified investment opportunities, including in Renminbi (RMB) funds in conjunction with the Chinese government."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The proceeds, along with the $15.4m cash the firm already has, will be used to meet its investment plan and cash operating costs in the upcoming year.
Origo's Chief Executive Officer Chris Rynning said: "Origo's partnership with the Chinese government is expanding and we are looking to increase our exposure to Renminbi. This placing will allow us to continue investing in fast growing Chinese cleantech and resource related companies while enlarging the Company's shareholder base."
BC
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
