Datang Telecom to Form New VC Company

Shanghai Securities News, 3/20/10

Chinese telecom equipment manufacturer Datang Telecom (600198.SH) announced in a public filing on March 20 that it will partner with group companies Datang Telecom Technology Holding, Gohigh Data Networks (000851.SZ), and Datang Capital to establish a corporate venture capital fund, "Datang Venture Capital Co., Ltd.," with a registered capital of RMB 100 mln. Datang Venture Capital will offer venture capital services primarily for promising enterprises in telecommunications or related fields, and will invest primarily by acquiring equity in target companies. Datang Telecom will put up RMB 22 mln, giving it a 22% share of the new company's registered capital; Datang Telecom Technology Holdings, RMB 50 mln, for a 50% stake. GoHigh will invest RMB 26 mln, and Datang Capital RMB 2 mln. All investments will be made in cash.

Keywords: Datang Capital Datang Holdings Datang Venture Capital telecom 600198.SH Datang Telecom VC Gohigh Data Networks 000851.SZ

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