Chinese fund raises Eu Yan Sang stake further
This has spurred speculation about its intentions, even as a consortium has unveiled its privatisation plan
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Singapore
A PROMINENT Chinese fund run by billionaire Chinese financier Lei Zhang and backed by Yale University's endowment and Stanford University has upped its substantial stake in traditional Chinese medicine retailer Eu Yan Sang International and spurred talk about its intentions, even as a consortium's privatisation bid for the group unfolds.
Hillhouse Capital Management picked up 21,000 shares in Eu Yan Sang at S$0.615 apiece on Monday, Eu Yan Sang said in a Singapore Exchange (SGX) filing on Tuesday morning. This move took its stake to about 23.49 million shares, or 5.238 per cent of the mainboard-listed group.
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