IT: Group buys Datang Mobile bonds (Shenzhen Daily) Updated: 2006-06-02 14:20
A foreign group has bought US$25 million worth of convertible bonds from
Datang Mobile, in a show of support for a key developer of China’s
third-generation (3G) mobile standard, TD-SCDMA, the South China Morning Post
reported Thursday.
The group's three members are Korea Development Bank's private equity arm,
Korean venture capitalist STIC Investments and SeaBright China Special
Opportunities, a fund co-owned by U.S. Seagate Global Advisors and China
Everbright, the Hong Kong-based newspaper reported.
Beijing-based Datang Mobile will soon announce further rounds of private
equity investment, aiming to raise up to US$100 million by the end of this year,
the paper said, quoting Liu Guoyi, the company’s director of investment and
finance, as saying. (For more biz stories, please visit Industry Updates)
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