CITIC Capital Holdings said on Wednesday a unit of Qatar's sovereign wealth fund has subscribed to new shares in the Chinese investment firm, equivalent to a 22 percent stake.
CITIC Capital, partly owned by China's sovereign wealth fund, did not give financial details of the investment by Qatar Holding, a unit of Qatar Investment, in its newly issued shares.
"Not only will Qatar Holding provide us with an enlarged capital base to fund our business expansion and investments, its significant backing will strengthen our brand positioning meaningfully as the most preferred and committed partner to invest with, both in and outside China," CITIC Capital's CEO, Yichen Zhang, said in a statement in English.
CITIC Capital's shareholders include China's sovereign wealth fund, China Investment Corporation, and Chinese financial conglomerate CITIC Group.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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