CDH invests $90m in HK furniture maker Man Wah Holdings
CDH Investments has acquired a 8.54% stake in Hong Kong's Man Wah Holdings for HK$700 million ($90 million) through a convertible bonds subscription. Another investor, Huaxia, also bought a 1.83% stake in the firm for HK$150 million.
According to a filing, the issuing price was at HK$8.25 ($1.06) per share. CDH has appointed Xie Fang, one of its directors, to the Man Wah's board.
Man Wah Holdings engages in the production and sales of sofas, mattresses and furniture accessories. After delisting from the Singapore bourse, it was listed on Hong Kong Stock Exchange in 2010. The investment will be used to developed the business and to support working capital requirements.
CDH Investments,which focuses on private equity, venture capital, real estate and mezzanine investments, has around $8 billion in asset under managment. It operates offices in Hong Kong, Beijing, Shanghai, Singapore, Shenzhen, Jakarta and Ho Chi Minh City. Huaxia is an alternative investment platform managed by mutual fund manger China Asset Management (China AMC).
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