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.
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