SINGAPORE, Dec. 9, 2014 /CNW/ - HOPU Investments Co. Ltd. ("HOPU Investments") announced that it has increased its shareholdings in Paladin Energy Limited ("Paladin") to 16.69%, as a result of the completion of the institutional component of the non-renounceable entitlement offer of ordinary shares by Paladin (the "Entitlement Offer").
Pursuant to the Entitlement Offer, HOPU Investments acquired an additional 72,431,409 ordinary shares (the "Shares") in the capital of Paladin representing 5.56% of the currently outstanding ordinary shares of Paladin. The Shares were acquired at a price of A$0.26 per Share (approximately C$0.25), for an aggregate purchase price of A$18,832,166.34 (approximately C$17,922,572.71). The entity that subscribed for shares in the Entitlement Offer was HOPU Clean Energy (Singapore) Pte. Ltd., a wholly-owned subsidiary of HOPU USD Master Fund II L.P.
Following completion of the retail component of the Entitlement Offer (which is scheduled to occur on December 17, 2014), HOPU Investment's shareholdings in Paladin will be reduced to a maximum of 15%. HOPU Investments' shareholdings in Paladin at such time will depend on the number of shares that HOPU Investments is required to subscribe for as a sub-underwriter of the retail component of the Entitlement Offer.
HOPU Investments has acquired the Shares in the Entitlement Offer for investment purposes. HOPU Investments intends to evaluate these holdings and increase or decrease its investment in Paladin as circumstances warrant.
About HOPU Investments
HOPU Investments is a private equity firm focusing on China-related investment opportunities. With offices located in Beijing, Hong Kong, and Singapore, HOPU Investments' Team has unique expertise in investment, financing and capital market, as well as diverse experiences working with State Owned Enterprises and private entrepreneurs.
HOPU Investments' key investment focus is to create, develop and pursue investment opportunities that are driven by China's ongoing economic reforms and developments, in particular in consumer, energy, mining, agriculture and financial services sectors.
HOPU Investments has recently raised US$1.85 billion committed capital for HOPU USD Master Fund II from investors comprising of sovereign wealth and global institutional investors.
SOURCE: HOPU Investments Co. Ltd.
For further information: Victoria Liu, Email: email@example.com, Phone: +86 10 5181 9612