Hony Invests in China International Marine Containers (Asia)

Source: AVCJ  |  Author: Alvina Yuen

Chinese private equity firm Hony Capital has acquired a 5.16 percent stake in China International Marine Containers (CIMC), a state-owned manufacturer of shipping containers that is in the process of transferring its listing from the Shenzhen Stock Exchange to the Hong Kong Stock Exchange. Broad Ride, a subsidiary of Hony Capital Fund V, was selected to provide cash options to shareholders who did not wish to transfer their shares. The fund purchased 137 million shares of CIMC at HKD9.83 per share (approximately US$1.27) for a total value of HKD1.35 billion (approximately US$173.8 million).