New fund to invest in China's rising middle class
6 May 2008
Yangtze China Investmentis planning to list on the Alternative Invesment Market, or AIM, this month, the Financial Times reported. The fund, which is seeking investments to capitalize on the rising affluence of China's middle class, intends to raise US$20 million from Asian investors in hopes of acquiring a portfolio of investments worth US$9.39 million. The portfolio includes three companies – a home-shopping business that broadcasts on local television channels; technology for three-dimensional flat-screen displays; and a technology being developed for Chinese tax authorities. The fund will take stakes of up to 45% in the target companies. Yangtze China Investment said it has signed memorandums of understanding worth US$45 million for future investments.
Bookmark and Share:
- Fund managers told to support stock market post-quake
- China calls for Rio Tinto boycott
- CLSA could increase stake in Chinese JV
- PBOC: China to use exchange rate to fight inflation
- Rio Tinto considering Chinese partnership for Africa
subscribe to the China Economic Review.