Qatar Investment Authority Acquires 4.26% Stake in Kingdee
The deal subject to a lock-up period of 180 days.
Al-Rayyan Holding, a subsidiary of Qatar Investment Authority (QIA) has acquired 4.26% of the Hong Kong-listed enterprise management software firm Kingdee International Software Group’s total ordinary shares in a deal worth $200 million, according to an announcement.[1]
The deal is subject to a lock-up period of 180 days.
Post-transaction, Xu Shaochun, the Chairman of the Board and CEO of Kingdee, will retain a 19.37% stake in the company.
Established in 1993, Kingdee is headquartered in Shenzhen, a tech hub in South China's Guangdong province.
Numerous industry leaders have chosen the company's primary cloud service offerings.
To date, Kingdee has served over 7.4 million businesses, governments, and organizations worldwide by offering management software and cloud services.
The QIA is the country's sovereign wealth fund. In 2005, QIA was established to invest and manage the State's reserve monies.