Chinese rail equipment company takes 14% stake of Vallianz

Chinese rail equipment company takes 14% stake of Vallianz

Vallianz Holdings has entered into an agreement with two Hong Kong-based subsidiaries of China’s CRRC Corporation which will see the Chinese company invest S$23.65m ($16.6m) for a 13.9% stake in Vallianz.

The two subsidiaries of China’s state-owned CRRC, which supplies rail equipment, will subscribe for an aggregate of 550 million new ordinary shares in Vallianz at S$0.043 per share. The new ordinary shares issued to CRRC will be subject to a moratorium period of one year.

Mr Ling Yong Wah, CEO of Vallianz, commented, “We are honoured that a major China state-owned corporation like CRRC is demonstrating its confidence in the Group’s business and our future prospects by taking a substantial equity stake in Vallianz.”

CRRC together with major shareholders Swiber and Rawabi will have a combined shareholding of 53.6% in Vallianz after the transaction.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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