Origo raising $30m for Chinese and Mongolian investments
Business Financial Newswire - Private equity investor Origo Partners plans to raise up to $30m via a placing through an accelerated book-building process.
It says it will use the net proceeds to fund a number of new, well-advanced investment opportunities in the Chinese clean-tech and agriculture sectors and in the Mongolian natural resources sector.
Indications of interest have been received from existing shareholders and new investors for over $25m at an indicative issue price of 25p per share.
Together with the company's existing cash resources, the funds will be used for seed investment of about $10m in the new Origo China Sustainable Development Fund; Mongolian mineral resource investment opportunities totalling $20m, and investment opportunities in the Chinese clean-tech and agriculture sectors amounting to $20m.
CEO Chris Rynning said, 'The funds raised from the proposed placing will enable Origo to launch its first RMB fund, which will significantly enhance our platform for investing and realizing value on the Chinese mainland.
'We will also be able to capture recent mining and clean technology opportunities in China and Mongolia which our team have identified and progressed.'
Origo will publish its results for 2009 by the end of June. It expects to report NAV per share of $0.61.
Story provided by StockMarketWire.com
2010-06-11 07:55:42
It says it will use the net proceeds to fund a number of new, well-advanced investment opportunities in the Chinese clean-tech and agriculture sectors and in the Mongolian natural resources sector.
Indications of interest have been received from existing shareholders and new investors for over $25m at an indicative issue price of 25p per share.
Together with the company's existing cash resources, the funds will be used for seed investment of about $10m in the new Origo China Sustainable Development Fund; Mongolian mineral resource investment opportunities totalling $20m, and investment opportunities in the Chinese clean-tech and agriculture sectors amounting to $20m.
CEO Chris Rynning said, 'The funds raised from the proposed placing will enable Origo to launch its first RMB fund, which will significantly enhance our platform for investing and realizing value on the Chinese mainland.
'We will also be able to capture recent mining and clean technology opportunities in China and Mongolia which our team have identified and progressed.'
Origo will publish its results for 2009 by the end of June. It expects to report NAV per share of $0.61.
Story provided by StockMarketWire.com
2010-06-11 07:55:42
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