Hony Capital participates in Suning private placement
Hony Capital will invest RMB1.2 billion ($185 million) in Suning Appliance, a leading Chinese consumer electronics retailer, as part of a private placement worth up to RMB5.5 billion ($850 million). The private equity firm has agreed to subscribe to 97.56 million new shares at RMB12.3 per share.
The remainder of the placement is being made to Nanjing Rundong Investment, a company wholly owned by Suning chairman Zhang Jindong, and insurer New China Life. Nanjing Rundong has committed RMB3.5 billion...
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