China Everbright Limited (“Everbright” or “the Group”, HKSE code: 00165.HK)today announced that Beingmate Group Co. Ltd (SZ 002570), an investment project under the Group’s “China Special Opportunities Fund II”, a private equity fund of its Direct Investment Division, was listed on the Shenzhen Stock Exchange. Beingmate was listed at the IPO price of RMB 42, by issuing 43 million new shares. 

 

Established in November 1992 and headquartered in Hangzhou, Beingmate is a major domestic baby food producer focusing on infant nutritional foods, children’s food, baby feeding equipment, sanitary baby care products and infant healthcare consultation. With more than 12 years of experience in the baby food industry, Beingmate is one of the top three local brands in producing baby cereal, milk powders, glucose, chewing biscuits and other child related products. It has extensive distribution coverage in China, operational hubs and feeding and nutritional consultant centres in Shanghai, Nanjin and Hangzhou. Company website - http://www.beingmate.com/ 

 

Beingmate is the second listed project of “China Special Opportunities Fund II”, after iSoftStone (NYSE:ISS) which was listed on the NYSE in late 2010. Calculated upon the IPO price of RMB 42, China Everbright has an investment return at Beingmate for 10 times. The IPO of Beingmate further demonstrated the capability of China Everbright’s Direct Investment team’s deal sourcing and development. 

 

Currently, there are seven private equity and venture capital funds under China Everbright’s Direct Investment Division, focusing on pre-IPO mainland companies with strong growth potential. These funds have already completed 23 investment projects and generated rewarding returns to the Fund, namely China Techfaith Wireless Communication Technology Limited (NASDAQ: CNTF), China High Speed Transmission Equipment Group Co. Ltd. (00658.HK), Xinjiang Goldwind Science and Technology Co. Ltd. (SHE: 002202) and China Sunshine Paper Holdings Company Limited (02002.HK). China Everbright has launched a new private equity fund under its Direct Investment Division in late 2010 –“China Special Opportunities Fund III , focusing on the agriculture, consumption and service industries.