Published : Sept. 20, 2016 - 10:59
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THE INVESTOR] South Korean private equity firm Lindeman Asia Investment along with Chinese institutional investors have plugged US$260 million in Cogobuy, China’s leading e-commerce platform for electronics components, the company said on Sept. 20.
Through the investment, Lindeman Asia, China’s supplementary pension Social Security Fund and China Reinsurance Corp. hold a 10 percent stake in Cogobuy.
The move came after the Seoul-based PEF raised $268.6 million earlier this month for its new fund Lindeman Asia Global Pioneer to invest in Chinese enterprises.
Some of the investors in the fund include South Korea’s National Pension Service and Korea Development Bank who have each invested 100 billion won (US$89.41 million) in the vehicle.
Established in 2010, Cogobuy is a Hong Kong-listed company with a market capitalization of HK$17 billion (US$2.19 billion).
Its revenue rose 38 percent on-year to 9.45 billion yuan (US$1.42 billion) last year.
By Park Han-na (
hnpark@heraldcorp.com)