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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
London Asia | LSE:LDC | London | Ordinary Share | GB0008251513 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.85 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8199Z London Asia Capital PLC 15 March 2006 For immediate release: 15 March 2006 LONDON ASIA CAPITAL PLC Private Equity Fund Fully Subscribed and Begins Trading on AiM London Asia Capital plc ("London Asia"), the Greater China focused investment and merchant banking group, is pleased to announce that the London Asia Chinese Private Equity Fund Limited ("the Fund") successfully raised the #50 million it was seeking and begins trading on AiM today. Collins Stewart Limited is acting as broker and nominated adviser to the Fund. The objective of the Fund, which is a Guernsey registered company, is to provide shareholders with capital growth from investing in a portfolio of companies whose business operations are based in China. The Fund will be self managed in that day to day investment decisions will be taken by Simon Littlewood and Victor Ng, who are Executive Directors of the Fund. The Chairman of the Fund is John Manser, the former Chairman of Robert Fleming Holdings Limited. London Asia is investment consultant to the Fund, utilising its network of offices and staff both within and outside China. London Asia will receive an annual management fee of 2.0% of the net asset value of the Fund, equal to #1 million in the first year, and a 20% share of the increase in net asset value of the Fund, provided the Fund generates a minimum 6% compound growth per annum. The Fund will primarily focus on investment in profitable businesses in China that are seeking additional working capital to fund expansion, or are looking to list on capital markets worldwide. London Asia has already identified over #150 million of investments that potentially meet the Fund's investment criteria from its existing deal flow, sourced from its teams in seven offices across China. London Asia has given an undertaking that it will not invest in any investment opportunity without giving the Fund first right of refusal to invest. Simon Littlewood, Chief Executive, London Asia Capital plc said: "We are extremely encouraged by the high level of investor interest in the fundraising, which was oversubscribed. Identifying, investing in, advising and ultimately exiting Chinese businesses is the cornerstone of our business model. We have had great success in the past investing from our own resources, and we look forward to replicating that success in the Fund." He added: "We have increased the size of our business over the last six months in anticipation of the increased activities of our fund management arm, and now have over 50 full time staff in 14 offices around the globe. The additional capital in the Fund and fees generated from it will enable us to expand London Asia's activities much more rapidly than we have been able to in the past, to take advantage of the huge number of opportunities that our unique infrastructure and business model generates." - ends - For further information please visit www.londonasia.com or contact: John West/Matt Ridsdale Simon Littlewood Tavistock Communications London Asia Capital plc Tel: 020 7920 3150 Tel 020 7248 7578 This information is provided by RNS The company news service from the London Stock Exchange END MSCAKPKKFBKKCND
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