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Yangzijiang invests in Nanjing equity fund

Yangzijiang invests in Nanjing equity fund
Continuing to branch out from its core shipbuilding business Yangzijiang Shipbuilding has taken a 95% stake in a new Nanjing based equity investment vehicle.

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.