Central China Securities Unit to Establish Fund With Substantial Shareholder
MT Newswires Live
Yesterday
Central China Securities (HKG:1375) said its wholly-owned unit ZDKY Venture Capital agreed to form a fund with firms associated with its substantial shareholder Henan Investment Group, according to a Hong Kong bourse filing Monday.
Shares of the brokerage gained over 1% in morning trade Tuesday.
ZDKY Venture will form the fund with Henan Asset Fund and Henan Asset, contributing up to 50 million yuan in capital, or 40% of the total 125 million yuan to be contributed by all the parties.
ZDKY Venture Capital will serve as the fund manager of the partnership, which will primarily invest in debt-for-equity swap funds and other similar instruments issued by private fund managers.
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