The Shenzhen-listed Mango Excellent Media Co. Ltd. [300413] announced earlier this week that it has raised (link in Chinese) 2 billion yuan by selling shares to two state-owned investors — a subsidiary of telecom operator China Mobile Ltd. and a subsidiary of China Life Insurance Corp. Ltd.This comes a day after Caixin reported a private broadband provider will sell its subscriber business to an SOE and focus on selling services to SOE customers.
China Mobile has become Mango’s second-largest shareholder with a 4.37% stake after subscribing to shares valued at 1.6 billion yuan, while China Life Insurance had 1.21% after an investment of 400 million yuan. The stake of the company’s largest shareholder, the state-owned Hunan Satellite TV, will be diluted to 64%.
OUE Wins Tender for Development and Lease of Changi Airport Hotel
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Changi Airport has awarded a tender to OUE for the development and lease of
a new hotel at the Singapore airfield’s Terminal 2.
The proposed 255-key Hote...
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