CIG Shanghai to Invest 400 Million Yuan in Tech Venture Fund

MT Newswires Live12-09

CIG Shanghai (HKG:6166, SHA:603083) plans to invest 400 million yuan into a private equity venture fund to boost its presence in the optical devices, chips, and core IC sectors, according to a Shanghai Stock Exchange filing on Tuesday.

The investment will be funded by proceeds from the data transmission device maker's Hong Kong initial public offering, which was completed in October.

CIG Shanghai will initially acquire a 99.99% stake in Yangzhong Xingfu Jiayuan Venture Capital Partnership (Limited Partnership) for 100 million yuan, then inject an additional 300 million yuan, giving it a 99.9975% stake.

The remaining 0.0025% stake is held by Shanghai Zhifeng Private Equity Fund Management.

The partnership fund is a special-purpose vehicle established on Oct. 27. It has yet to engage in any investment activities.

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