According to Kingdee's WeChat *** news on December 10, Kingdee International (0268HK) and the Qatar Investment Authority ("QIA") announced on the same day that they had reached a definitive agreement. Pursuant to the agreement, QIA will invest approximately US$200 million in consideration for the subscription of Kingdee's common shares issued under a general mandate, representing approximately 4.4 of Kingdee's total common shares upon closing26% ("Strategic Investment") with a 180-day lock-up period.
According to the article, this strategic investment not only reflects Kingdee's long-term investment value, but also fits with QIA's strategy to focus on investing in companies and technologies that are leading global digitalization and shaping the future ecosystem.
Xu Shaochun, Chairman and Chief Executive Officer of Kingdee, said: "We are delighted to partner with QIA, as this strategic investment from QIA demonstrates Kingdee's leading position in the enterprise digital management industry and will support Kingdee's international growth strategy. ”
Mohammed Al-Hardan, Head of Investments, QIA Technology** & Telecommunications (TMT), said: "QIA is committed to investing in innovative technology companies around the world. We believe in the long-term growth opportunities in the software industry in Asia and recognize Kingdee's leading position in the industry and its key role in driving the cloud transformation of Chinese enterprises. We are delighted to add Kingdee to our growing portfolio of Asian TMTs. ”
Founded in 2005 and headquartered in Doha, the Qatar Investment Authority (QIA) is Qatar's sovereign wealth**, with a diversified portfolio covering multiple sectors and geographical regions, according to public information. Qatar Investment Authority recognises the huge growth potential of the Chinese market and actively pursues investment opportunities in Chinese mainland. In 2022, QIA said it had invested $10 billion in China since 2016.
*: Reading and Creating Finance and Economics.
Review: Sun Shijian.