Standard Chartered completes 35 mln usd investment in China's Sino Ocean |
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Wed, 10 Jan 2007 08:30
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HONG KONG (XFN-ASIA) - Standard Chartered Private Equity Ltd (SCPEL) said it has completed its planned investment of 35 mln usd in Sino Ocean Real Estate Development Co.This follows an investment by SCPEL in in Shimao Property Holdings Ltd and Greentown China Holdings Ltd in 2006, the company said.The amount put into Sino Ocean brought Standard Chartered Prviate Equity's total investment in China's real estate development sector in 2006 to a total of 135 mln usd, it said.Sino Ocean, a company which develops high quality residential projects for mid-end customers and superior office buildings for corporate clients, is actively expanding into selected markets, including major cities in Bohai Economic Zone, such as Tianjin, Dalian, and Shenyang and Zhongshan in the Pearl River Delta.Separately, another source said Sino Ocean plans a 400 mln usd IPO in Hong Kong in the third quarter this year.roby.lau@xfn.comrl/net
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