Singapore-listed Yangzijiang has subscribed to a 95% shareholding Nanjing Saiyang Equity Investment Enterprise (NSEIE) for RMB190m ($28.8m).
Yangzijiang said the investment would enhance its cash redeployment.
“NSEIE is an equity venture capital investment fund aiming to generate capital gains from investment in emerging markets such as digital new media industry, internet, cloud computing, energy saving and environmental protection and internet banking,” the company said.
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