China’s Heaven-Sent Capital invests $32m in media enterprise
Chinese private equity firm Heaven-Sent Capital has invested RMB200 million ($32 million) in Great Wall Movie and Television, a Shenzhen-listed television and movie producer.
According to a regulatory filing, Zhejiang-based Great Wall Movie is issuing 57 million shares at RMB17.26 apiece, for a total consideration of RMB875 million, from six investors via private placement. Heaven-Sent has subscribed 10 million shares, while Jiangsu Juhe Capital Management will acquire RMB58 million worth of shares. Other investors include mutual funds and individuals.
The proceeds will be used to make 660 new TV series and around three movies by 2017, the company said.
Founded in 2000, Heaven Sent has launched over 70 investment funds, covering venture capital, private equity and private wealth management. It has invested in about 100 companies of which 60 are listed in China.
Last week the GP announced plans to buy a controling stake in South African gold producer Village Main Reef for ZAR637 billion ($56 million) and take the business private.
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