Fosun International (00656.HK) announced that its subsidiaries - Nanjing Iron & Steel Co., Ltd., Tibet Fosun Investment Management Co., Ltd. and Shanghai Fosun Pingyao Investment Management Company Limited, have entered into a limited partnership agreement with Tibet Xingye Investment Management Co., Ltd. and other investors in respect of the formation of the fund, Shanghai Fosun Chuanghong Equity Investment Fund Partnership (L.P.).

Pursuant to the agreement, the total capital of the fund is RMB1.505 billion, of which Nanjing Iron & Steel will contribute RMB100 million, Tibet Fosun will contribute RMB15 million, Shanghai Fosun Pingyao will contribute RMB40 million and Tibet Xingye will contribute RMB470 million, representing approximately 6.64%, 1%, 2.66% and 31.23%, respectively, of the total capital of the fund. The other investors will contribute RMB880 million.

Tibet Xingye is an associate of Guo Guangchang, a director of Fosun International, and is therefore a connected person of Fosun International as defined under the Listing Rules.

Source:chinesestock.org