HONG KONG: Japanese trading house Itochu Corp and Thailand's Charoen Pokphand Group (CP) will jointly invest a total of HK$80.3 billion ($10.36 billion) in China's Citic Group , the companies said in a Hong Kong stock exchange filing on Tuesday.
The companies will also enter into a strategic partnership, the filing said.
Citic, China's oldest and biggest financial conglomerate, has been trying to broaden its investor base.
It completed a restructuring in August by injecting about $36 billion worth of assets into a Hong Kong-listed unit, part of Chinese President Xi Jinping's reforms to state-owned enterprises.
Comments
Comments are closed.