ASIA WATER IN BRIEF
- From: Vol 12, Issue 8 (August 2011)
- Category: Brief
- Region: Asia
- Country: China, India, Malaysia and Singapore
- Related Companies: Berjaya Corporation, Hankore Environment Technology, Jindal Saw, Kardan International Water Group and United Envirotech
Shares in Singapore-listed ‘orphan stock’ United Envirotech jumped 13% on the news that private equity firm Kohlberg Kravis Roberts plans to invest $113.8 million in the company by subscribing to a new five-year convertible bond.
* If the bond is fully converted, KKR will become UEL’s largest shareholder, with a 38.4% stake.
* Beijing Evolution Tech, a water treatment equipment company operating in China, has injected $31 million of equity into another Singapore-listed ‘orphan’, HanKore Environment Technology (formerly Bio- Treat). Beijing Evolution has been building up its holding since 2009 and is now the company ...
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