Hony Capital to boost stake in ChinaSoft International
Beijing. June 9. INTERFAX-CHINA - Hony Capital Ltd., the private equity arm of Legend Holdings Ltd., has agreed to invest HK$279 million ($35.85 million) in ChinaSoft International Ltd. (CSI), a Hong Kong Stock Exchange-listed information technology (IT) service provider, CSI announced June 8.
The investment will be made through Hony Capital's wholly-owned subsidiary Keen Insight Ltd., according to the announcement.
Keen Insight will acquire 150 million shares at HK$1.86 ($0.23) apiece, increasing its stake in CSI from 5.84 percent to 15.75 percent, the announcement said.
Hony will recommend ChinaSoft's IT services to its portfolio of companies as part of the deal, the announcement added.
Founded in 2003, Hony Capital is a midmarket private equity firm focused on China. The firm's past investments include handset manufacturer Lenovo Mobile Telecom Technological Co. Ltd. and IT service provider Digital China Holding Ltd.
CSI's shares on the Hong Kong Stock Exchange climbed to HK$2.38 ($0.30) on June 8, the highest since September last year.
-RL