Chinese private equity firm HOPU Jinghua (Beijing) Investment Consultancy Co. Ltd. is investing HK$933 million in Regal International Airport Group Co. Ltd., DealStreetAsia reported.
Hopu will subscribe to 200 million new shares of Regal Group at HK$4.69 apiece, according to a document filed with the Hong Kong stock exchange Sept. 30. Hopu will also be able to appoint the COO and deputy CFO to support Regal Group in taking advantage of opportunities arising from the phase II expansion of Haikou Meilan International Airport, the report said.
Approximately 33% of the net proceeds will be used for introducing innovative technology and airport upgrades. A further 29% will be used for expansions and maintenance of existing terminal buildings and other areas.
The remaining net capital will be used to acquire staff quarters and facilities, and as working capital, the report said.
Hopu Investments primarily invests in infrastructure, consumer, technology, healthcare, financial services, logistics and real estate.
