Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
DBS fund to invest in unlisted companies
By Zhang Fengming |
00:00 UTC+8 March 3, 2009
|
Print Edition
Print Edition
SINGAPORE'S DBS Bank said yesterday that its private equity arm has established a US$100-million onshore yuan-backed fund to invest in unlisted companies in China.
DBS Private Equity is among the first few foreign private equity investor groups to set up a local investment vehicle on Chinese mainland.
"The initiative reinforces DBS's commitment to expand its franchise in the country, and underscores the bank's conviction in the strength and potential of the Chinese economy," Southeast Asia's biggest bank said.
The DBS Private Equity Enterprise fund is wholly owned by the bank. The fund will provide capital to mid-to-late stage Chinese firms in growth industries, and to eventually list them on the domestic A-share market.
Over the next two years to three years, the fund will invest US$10 million to US$20 million on average in each company to own minority stakes in them.
"China is an important growth market for DBS, and we believe in its long-term potential," said Melvin Teo, managing director and head of DBS Private Equity. "We are staying the course in Asia, and the creation of the fund allows us to partner promising Chinese mainland companies to create long-term value for the Chinese economy."
DBS's private equity arm will open a Shanghai office to further expand its investments in China. DBS Private Equity made its first investment in China in 2002 when it invested in Yingli Green Energy Holding Co Ltd, Yangzijiang Shipbuilding (Holdings) Ltd and China Infrastructure Machinery Holdings Ltd.
DBS Private Equity is among the first few foreign private equity investor groups to set up a local investment vehicle on Chinese mainland.
"The initiative reinforces DBS's commitment to expand its franchise in the country, and underscores the bank's conviction in the strength and potential of the Chinese economy," Southeast Asia's biggest bank said.
The DBS Private Equity Enterprise fund is wholly owned by the bank. The fund will provide capital to mid-to-late stage Chinese firms in growth industries, and to eventually list them on the domestic A-share market.
Over the next two years to three years, the fund will invest US$10 million to US$20 million on average in each company to own minority stakes in them.
"China is an important growth market for DBS, and we believe in its long-term potential," said Melvin Teo, managing director and head of DBS Private Equity. "We are staying the course in Asia, and the creation of the fund allows us to partner promising Chinese mainland companies to create long-term value for the Chinese economy."
DBS's private equity arm will open a Shanghai office to further expand its investments in China. DBS Private Equity made its first investment in China in 2002 when it invested in Yingli Green Energy Holding Co Ltd, Yangzijiang Shipbuilding (Holdings) Ltd and China Infrastructure Machinery Holdings Ltd.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
