Yangzijiang acquires 5% stake in China equity fund and bonds firm for $146 mil

SINGAPORE (Feb 28): Yangzijiang Shipbuilding is taking a stake in a China equity fund and convertible bonds investments firm.

Subsidiary Jiangsu New Yangzi Shipbuilding Co. is acquiring a 5% stake in Jiangsu Sushang Joint Industry Investment Partnership at a consideration of RMB700 million ($146 million).

Registered in Suzhou city, the core businesses of Sushang are related to those of equity fund and convertible bonds investments in industries such as new materials, electronic components, intelligent hardware, Internet, big data, artificial intelligence, financial technology and high-end manufacture. The operating term of Sushang is six years.

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