SAIF earns up to 5x return on China UMS exit
VC firm SAIF Investment has reportedly sold a 7.07% stake Unionpay Merchant Services Co. (China UMS), the Shenzhen Stock Exchange-listed payment provider that exclusively serves PRC-based outfit Youngor Group and the Shanghai Changjiang Guohong Equity Investment Fund Center, which was said to be a related party of Youngor.
Youngor Group is a listed local company linked to the branded garment manufacturing and marketing industry, as well as property development. Upon the exit, SAIF has reportedly received RMB525 million...
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