CIC, RRJ Invest In Chinese Water Treatment Firm SIIC Environment

Shanghai-based Chinese water treatment company SIIC Environment Holings says it is raising US$209 million by selling new shares to investors.

Shanghai Industrial Holdings Ltd., parent to the Singapore-listed SIIC, China Investment Corp. and Hong Kong-based private equity firm RRJ Capital are buying 3.1 billion new shares at 0.085 Singapore dollars a share.

The price represents a 13% discount to the weighted average price on October 10, the last trading day before the announcement.

After the deal, CIC will hold 7.68% of SIIC. RRJ Capital will have a 5.24% stake.

China Expert network