Yangtze bags $25.4m in AIM move

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Date: Wednesday 14 May 2008

LONDON (ShareCast) - Yangtze China Investment, which invests in small and medium-sized growth businesses within the consumer sector in China, today raised $25.4m when it started trading on AIM.

Upon admission, the group has acquired a portfolio of investments in three companies, IGO, Creative Picture and Onbest, for a consideration of about $9.39m.

Yangtze said it also has a pipeline of investment opportunities, with non-binding MOUs in place over a total investable amount of around $45m.

“We are pleased that the flotation has been completed successfully and are delighted with the support we have received from our new shareholders,” said chairman Wilfred Wong.

“The subscription will enable us to proceed with several exciting investment opportunities that we are already evaluating,” he added.

Collins Stewart Europe is acting as nominated adviser and broker to the company.

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