Baring increases stake in HK-listed Magic Holdings

According to a regulatory filing, the investment was channeled through Baring Private Equity Asia V, a $2.46 billion vehicle that closed in January 2011.

BPEA acquired a 15% interest in Magic Holdings in January 2012 for HK$451 million from Queenherb Enterprises, a wholly-owned subsidiary of Hua Han Bio-Pharmaceutical Holdings. Six months later, it bought another 50 million shares - approximately 5% of total issued share capital - from the same seller for HK$146 million.

Magic Holdings co-founders Stephen Tang and She-Yu Yuan still own 11.45% and 14.29%, respectively, of the company.

Magic Holdings sells facial mask products in China under its MG brand, which is responsible for 170 products across 13 series. With 261 distributors and 10,184 points of sale, the company claims to have the largest market share in the facial mask industry in the country.

EBTIDA for 2012 came to HK$272.2 million, up 27% year-on-year, while revenue jumped 41% to HK$1.35 billion.

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• Topics
• PIPEs
• Consumer
• Greater China
• PIPE
• China
• Baring Private Equity Asia
• Consumer